Prices at UK retailers rose at their lowest rate in more than three years last month, and merchants grew more promotional as cold weather and economic uncertainty kept consumers from spending, according to the British Retail Consortium. "Retailers will now be looking to keep prices competitive over the next few weeks to keep whatever momentum there is in sales growth going, and for high street retailers this could require summer discounts to start sooner rather than later," said Mike Watkins, head of retailer and business insight at Nielsen.

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