Retailers reported deflation for the tenth consecutive month in February, accelerating to 1.4% from 1.0% in January – the deepest level of deflation since December 2006.
Non-food reported annual deflation of 3.0% in February from 2.7% in January – the lowest ever recorded and food inflation slowed to 1.1% from 1.5% in January – the lowest ever recorded, according to the British Retail Consortium-Nielsen Shop Price Index.
Italian upholstery producer Natuzzi has set out its plans to restore profitability by concentrating on trade sales, own-label production and the Revive recliner. It says it will end losses by the end of the year and make a profit margin of 3.9% in 2016.
Daniel L Lynch Snr, former Lynch Sales Company co-owner died on 1 March.
Born 27 March, 1922, he was the son of the company's founder Joseph Lynch and was second-generation co-owner, with his brother Philip.
The value of more than half the homes in England and Wales rose last month, as prices rose at the fastest rate since 2007.
Prices rose in 51% of postcodes in England and Wales, according to research by Hometrack. This is the largest rise since 2004. Prices rose by 0.7%, the biggest increase since April 2007.
Department store chain John Lewis enjoyed double digit increases in home categories last week.