UK shop price inflation rises to highest level since 2024
British Retail Consortium reports shop price inflation at 2.1% in October, up from 1.4% in September as retailers face rising costs.
The British Retail Consortium has reported that shop price inflation in the UK has reached 2.1% year on year in October, marking the highest level in two and a half years, The Guardian reported.
This increase represents a sharp rise from the 1.4% inflation rate recorded in September, indicating that retailers are starting to pass on the rising costs of energy and food ingredients to consumers.
The consortium warned that the 'dam is starting to break' as retailers struggle to keep price rises limited for customers amid growing costs.
The rising inflation is attributed to increasing expenses in energy and food ingredients, which retailers have been absorbing but are now beginning to reflect in shop prices.
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