UK shop price inflation slows despite costs pressures
LONDON: British shop price inflation slowed slightly in September despite rising cost pressures on retailers caused by the Iran war, according to a survey on Tuesday from the British Retail Consortium, which urged the government to do more to help.
London - British retail inflation decreased slightly in September, according to a report from the British Retail Consortium (BRC), despite rising cost pressures caused by the Iran war. The BRC urged the government to provide more support to retailers, who have absorbed numerous additional costs. BRC Chief Executive Helen Dickinson indicated that retailers are reaching a financial limit, with higher business rates set to increase in April and other rising expenses like employment costs, energy bills, and packaging taxes.
Finance Minister John Healey could aid in maintaining lower prices during his October 28 tax and spending plan by assisting retailers with their business rates bills. The BRC survey revealed that annual shop price inflation declined to 1.4% in September from 1.5% in August, although it was slightly above the three-month average of 1.3%.
Food price inflation also slowed to 2.5% from 2.8%, as promotions helped lower meat and dairy prices. However, poor European harvests increased fruit prices, while high commodity prices continued to elevate chocolate and confectionery costs. Non-food inflation eased to 0.8% from 0.9%, as strong discounts reduced the expenses of back-to-school essentials.
The BRC survey, based on prices collected between September 1 and September 7, showed that Britain's broader consumer price inflation index rose to 3.1% in August and is expected to exceed 4.0% in early 2027 due to the energy price shock caused by the Iran war.
Written by urgent.news from New Straits Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
