US EditionShop Prices on the Rise for First Time in a Year
- On Tuesday, UK shop prices rose 0.4% in June, marking the first inflation in nearly a year after a 0.1% decline in May.
- Following last autumn's budget, rising employer national insurance and wage costs drove shop prices back into inflation in June, after nearly a year of decline.
- Data shows food inflation rose to 3.7%, with fresh food up 3.2% year-on-year, while non-food deflation eased to-1.2%.
- While good weather boosts demand, rising shop prices may eventually suppress consumer spending later this year.
- The UK government faces pressure to implement business rates reform that alleviates retailer cost pressures and prevents higher shop costs, aiming to control inflation resurgence.
18 Articles
18 Articles
Evening Standard
Shop prices return to inflation for first time in almost a year
Overall shop prices were 0.4% higher in June than a year earlier, according to the BRC-NIQ Shop Price Index.
Shop prices return to inflation amid rising retailer costs
Shop price inflation increased to 0.4% year on year in June, against a decline of -0.1% in May, according to the BRC-NIQ Shop Price Index. Non-food inflation increased to -1.2% year on year in June, against a decline of -1.5% in May while food inflation… This story continues at Shop prices return to inflation amid rising retailer costs Or just read more coverage at Talking Retail
Shop prices return to inflation as retailers struggle to shoulder costs
Shop price inflation increased to 0.4% year on year in June, compared with a decline of 0.1% in May, as retailers grappled with increases to minimum wage and employer national insurance costs. Furthermore, non-food inflation increased to -1.2% year on year in June, against a decline of 1.5% in May. This was above the three-month average of -1.4%. Food inflation also increased to 3.7% year on year in June, compared with a 2.8% in May, again above…
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