British retailers have called on the Chancellor of the Exchequer, Mr Gordon Brown, to stimulate consumer demand after it published the results of its February retail price report.
British high-street shop prices rose 0.6 per cent in February compared with the previous month but, on a year-on-year basis, shop prices were unchanged, according to the British Retail Consortium (BRC).
February's increase in prices at British retail outlets follows a 1.4 per cent drop in prices in January, mainly due to discounting.
Mr Bill Moyes, BRC director general, said retailers are suffering from low margins given static prices and low sales growth. He urged Mr Brown to act to stimulate consumer demand and lower government-related costs.
Mr Brown will deliver the government's budget for the next fiscal year on April 9th.
