Utility Stores Cut Prices on Essential Items

UK retailers experienced a significant decline in shop prices for September, with a year-on-year drop of 0.6%, the largest fall in three years, attributed to heavy discounts amid wet weather. The British Retail Consortium noted that non-food items saw the greatest deflation, particularly furniture and clothing, while food inflation slightly increased due to poor harvests affecting cooking oils and sugars. Meanwhile, in Pakistan, the Utility Stores Corporation announced price reductions on over 170 essential items, including tea and spices, effective September 28, with cuts ranging from Rs10 to Rs190. This move follows prior reductions on over 800 items, reflecting a broader trend of declining inflation in the country. The spokesperson emphasized that there are no restrictions on shopping at these utility stores, allowing all citizens access to the discounted goods. Both markets are responding to consumer demand and inflationary pressures with strategic price cuts to attract shoppers.