TRADE NEWS FEBRUARY 2010 Retailers experience sales growth in February Online retailers to benefit from universal broadband Retailers face disproportionate utility costs Counterfeit goods seized in Norfolk BPF calls for public debate on CVAs NFRN quits JIG Tories reveal new supermarket planning laws NI independent fashion retailers folding Clothing retailers buck sales trend Isle of Man Tesco could 'impact' independent retailers Asda expansion threatens independents Scarborough's independent shops suffer rise in closure rate Small retailers 'not understanding shoppers' needs' Oxfordshire retailers come together to encourage local trade Scottish retailers left exposed to business rates UK retailers facing closure epidemic Computer chip counterfeiter prosecuted Village Shop of the Year named Family furniture retailer sees sales soar Counterfeit goods recycled Retailers receive grants to bolster security Inflation slow as retailers ignore VAT rise Uncertainty over economic policy Britons are biggest online shoppers   European visitors to The Wholesaler please click here   What’s New At The Wholesaler UK New Categories added recently Wholesale Fabric Tents and Camping Equipment Nautical and Marine Gifts Wholesale Golf Products Fireside Nostalgia, Nostalgic gifts, retro and vintage Wholesale Haberdashery Trade News Archive 2009  January   February   March   April   May   June   July   August   September   October   November   December Subscribe to our newsletter   Go to The Wholesaler UK Directory 3rd February 2010 Shop price inflation slow as retailers ignore VAT rise A number of UK retailers have refrained from passing on the costs of the VAT increase to the customer, with non-food inflation lower than expected as a result. Retail prices rose annually by 2.3 per cent in January, a small increase on the 2.2 per cent rise seen in December. With the return to 17.5 per cent VAT initially masked by an array of post-Christmas special offers, shops' prices might have been expected to increase as retailers looked to pass on the cost of the 2.5 per cent tax rise to the consumer. However, Stephen Robertson, director general of the British Retail Consortium, which collated the results via its Shop Price Index with Nielsen, said that competition was forcing retailers to hold back on VAT-led price rises. He said: "We would have expected non-food inflation to be higher because of the VAT rate reversal, but many shops held off passing the extra costs onto their customers. "Fierce competition, in the face of weakening consumer demand and uncertainty about the recovery, is keeping shop prices down." He went on to confirm that the VAT rise on January 1st was lost among a "huge number of discounts and promotions" © 2010 Comment on this news story   Trade News Archive 2008  December   November   October   September August   July   June   May   April   March   February   January