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  1. ITV Report

Hope for cheaper Christmas shop as food prices 'drop'

The weekly food shopper will be that little bit cheaper, experts have found. Credit: PA

The cost of the traditional turkey dinner this Christmas may be cheaper for the first time in eight years, as food prices finally began to deflate for the first time since the 2008 crash.

According to a report from the British Retail Consortium (BRC), food prices have fallen for the last three months by 0.1% every 30 days.

The biggest impact has been with shelved food products, which have fallen by 0.2% consistently month on month from November 2009, culminating in a decrease in prices.

However, the biggest surprise was the fall in alcohol prices, which deflated for the first time since records began.

The BRC pointed to numerous promotions and price cuts run by stores and supermarkets to get shoppers through their doors before December 25.

A drop in the price of commodities such as oil has also helped, as this makes deliveries cheaper for businesses and savings have been passed onto the customer, BRC said.

This all points to a very merry Christmas for the bargain hunting consumer and business owners, the BRC director-general Helen Dickinson said:

With food prices down, wages up, a highly competitive market keeping inflation low and Christmas around the corner, there are plenty of good reasons to assume a strong trading period lies just ahead of us

– Helen Dickinson