UK shop price inflation picks up, retailers ask government to help
The British Retail Consortium said non-food prices rose as furniture and health and beauty costs climbed, while food inflation eased to 2.7%.
- The British Retail Consortium's monthly survey published on Tuesday showed shop price inflation accelerated to 1.2% year-on-year in May, up from 1.0% in April, driven by disruption and higher energy costs linked to the Iran war.
- Britain's broader consumer price inflation is expected to rise to around 4% in the coming months due to an energy price shock, creating mounting pressures that BRC Chief Executive Helen Dickinson said retailers cannot absorb indefinitely.
- Non-Food prices surged 0.8% month-on-month in May with furniture and health and beauty products rising most sharply due to higher raw material and shipping costs, while food inflation eased to 2.7%, its lowest level in a year.
- BRC Chief Executive Dickinson urged the government to reduce non-commodity charges, taxes and levies making up more than two-thirds of energy bills and cut red tape to help keep inflation down and protect households.
- Retailers expect promotions to increase across all retail over the summer months as households remain cautious about spending, though customers can still find bargains on TVs while non-food inflation emerges as the primary concern replacing food.
15 Articles
15 Articles
UK shop price inflation picks up, retailers ask government to help
British shop price inflation sped up in May on the back of disruption and higher energy costs caused by the Iran war, according to a retail industry group which said the government had to do more to keep costs down.
UK shop price inflation rises to 1.2 per cent in May: BRC
UK SHOP price inflation rose in May as disruption and higher energy costs linked to the Iran war pushed up prices, according to a retail industry group which urged the government to do more to reduce costs.The British Retail Consortium’s monthly survey of major retail chains, published on Tuesday, showed prices in May were 1.2 per cent higher than a year earlier, up from a 1.0 per cent rise in April.Food price inflation slowed to 2.7 per cent fr…
Shop Price Inflation Edges Up As Cost Pressures Mount
Shop price inflation in the UK edged up in May as rising raw material and shipping costs, driven by the conflict in the Middle East, began to impact shelf prices. The data from the British Retail Consortium (BRC) and NIQ (more…) The post Shop Price Inflation Edges Up As Cost Pressures Mount appeared first on KamCity.
Retailers fight to keep prices low amidst rising costs - Credit Connect
New data from the British Retail Consortium (BRC) has shown that furniture and health and beauty products are among the items that have risen most in recent weeks, driving an increase in shop prices of 1.2% year on year in May, with the rate slightly above the three-month average of 1.1%. High oil prices and the ripple effect of the prolonged closure of the Strait of Hormuz shipping channel were among the factors in the research Customers can st…
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