Poor retail sales despite huge drop in prices

RETAILERS report poor sales and thousands of jobs are being lost despite prices plunging over the past year.

Latest figures from the Central Statistics Office show that over the past year food prices are down 6%, clothing is down 14% and footwear costs have fallen 13%. Consumer electronics are also down 15%, home computers down 25% and toys down 12%.

However, despite massive discounting, retailers said urgent government action is needed to encourage shoppers to start spending again.