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UK shop prices rise at fastest pace in nearly two years
Food prices rose 3.9%, driven by supply issues and demand for meat, fish, and fruit, while non-food inflation increased to 0.3% amid higher energy costs and National Insurance hikes.
- This month shop price inflation rose to 1.5% year-on-year, up from December's 0.7% and the three-month average of 0.9%, British Retail Consortium and NIQ reported.
- Rising input costs, notably business energy and higher National Insurance, pushed prices up as BRC and NIQ reported supply shortages and strong demand for meat, fish and fruit raised food inflation.
- Food inflation climbed to 3.9%, with fresh food prices up 4.4% year-on-year, while inflation on non-food items rose to 0.3%, affecting furniture, flooring and health & beauty.
- Households face a challenging time as retailers balance margins and promotions, with Mike Watkins, head of retailer and business insight at NIQ, saying shoppers remain cautious amid ongoing inflation.
- Differing industry measures leave the near-term outlook for food prices unclear, as Helen Dickinson, chief executive of the British Retail Consortium, said `Any suggestion that inflation has peaked is simply not borne out by these figures.
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26 Articles
26 Articles
UK shop prices rise at fastest pace in nearly two years
Prices at major British retailers rose at the fastest pace since February 2024 this month, led by a pick-up in prices for food as well as furniture and health and beauty products, industry figures showed on Tuesday.
·United Kingdom
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Total News Sources26
Leaning Left3Leaning Right2Center13Last UpdatedBias Distribution72% Center
Bias Distribution
- 72% of the sources are Center
72% Center
L 17%
C 72%
11%
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