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UK Shop Prices Drop 0.8% In December - BRC

Shop prices in the United Kingdom dropped 0.8 percent on year in December, the British Retail Consortium said on Wednesday - falling for the eighth consecutive month.

That missed forecasts for a contraction of 0.4 percent following the 0.3 percent decline in November.

The decline was the largest on record for any month since the survey began in 2006.

Intensive sales for the Christmas holiday season are the most likely cause for the decline in prices, the BRC said - pointing out that clothing prices along plummeted an annual 10 percent.

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