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Prices in UK shops fall more slowly in October - BRC

The coronavirus disease (COVID-19) outbreak in London

LONDON (Reuters) - Prices in British shops fell more slowly this month than in September, reflecting the smallest discounting for non-food items since the start of the coronavirus pandemic, figures from the British Retail Consortium showed on Wednesday.

The BRC said its shop price index showed a 1.2% annual fall in prices in October compared with a 1.6% drop in September

Food prices rose by an annual 1.2% in both months, but the fall in non-food prices slowed to 2.7% from September's 3.2%.

Official data showed purchases of non-food items exceed pre-pandemic levels last month, but BRC chief executive Helen Dickinson said she expected the squeeze on many retailers' profit margins to continue.

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"Given the wider economic context, with stricter restrictions and a possible rise in unemployment, we are likely to see continuing discounts in non-food for months to come," she said.

The BRC also warned prices would rise if Britain failed to secure a zero-tariff trade agreement with the European Union before post-Brexit transition arrangements expire at the end of this year.

(Reporting by David Milliken; Editing by William Schomberg)