British retailers are expected to raise prices in the coming months as higher employment costs take effect in April, according to a survey by the British Retail Consortium (BRC).
In February, shop prices rebounded by 0.4% from the previous month
BRC chief executive Helen Dickinson warned that rising operational costs—including a nearly 7% increase in the minimum wage, packaging levies, and higher payroll taxes—could push prices further up.
With inflation already at 3.0% in January and the Bank of England forecasting 3.7% by Q3, concerns persist over how much these rising costs will impact consumer prices. Food inflation climbed to 2.1% in February, with staples such as butter, cheese, eggs, and bread seeing increases, and global coffee prices expected to drive further rises. The BRC estimates food inflation could exceed 4% by mid-year and has urged the government to take action to ease the cost burden on retailers.
UK PM and Fin Min
This article was written by Eamonn Sheridan at www.forexlive.com. Read More Details
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