BRC June Shop Price Index: -1.8% (vs. -1.4% prior)

British Retail Consortium (BRC) June Shop Price Index: -1.8% y/y (vs. -1.4% prior)

• weakest since records began in 2006
• Cost of clothing and footwear fell
• Food price inflation was also the lowest on record; price rises for meat slightly offsetting big falls in the costs of cereals

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Cable not doing much on the data … but is the Bank of England right to be concerned about inflation and signalling rate hikes with data like this coming out?