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Attention, Shoppers: UK Prices Hit 19-Month High, Fuelling Inflation Fears
- Shop price inflation in the UK has risen to 1.4%, according to figures from the British Retail Consortium -NIQ Shop Price Monitor, driven by global factors and rising national insurance and wage costs.
- Food inflation has held steady at 4.2%, but increased labor and energy costs are impacting farmers, particularly in the dairy and beef sectors, as stated by the BRC.
- Helen Dickinson, BRC chief executive, noted that non-food deflation is ending and that the new packaging tax starting in October is expected to add upward pressure on inflation, leading to higher shop prices for consumers.
- Mike Watkins from NIQ mentioned that inflationary pressures are making shoppers more price-sensitive, prompting retailers to offer more promotions to maintain sales momentum.
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12 Articles
12 Articles
UK shop prices hit 19-month high
UK shoppers are being forced to pay more at the tills after shop price inflation increased to its highest level in 19 months. Prices increased by 1.4% in September, according to industry figures, up from 0.9% in August. The increase was driven by DIY and gardening products, which posted the biggest gains. There were some back-to-school items, such as laptops, that saw a price decrease, but it wasn’t enough to offset larger cost pressures. The BR…
Coverage Details
Total News Sources12
Leaning Left4Leaning Right2Center1Last UpdatedBias Distribution57% Left
Bias Distribution
- 57% of the sources lean Left
57% Left
L 57%
14%
R 29%
Factuality
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