A new report has shown that prices in UK shops increased by 0.7per cent in June, on a year-by-year basis, which may interest those with retail insurance.
The June 2009 Shop Price Index, published by the British Retail Consortium (BRC) and Nielsen, revealed that this increase followed the 1.3 per cent recorded in May and pointed out that this is the third consecutive month inflation has slowed in retail insurance holder's prices.
In addition, retail insurance customers may be interested to hear that month-by-month inflation for June stood at 0.2 per cent, compared to the 0.5 per cent rise in the previous month.
Stephen Robertson, director general of the BRC, commented: "Overall shop price inflation is the lowest since last December. Non-food prices have been cheaper than a year ago every month since then - with the biggest drops in clothing, footwear and electricals."
Recently, the BRC claimed that the government's proposed consumer advocate will only be beneficial to customers and retail insurance holders if it is completely independent.
