Inflation & Prices
Inflation in UK Shops Hits Record High With Little Relief Ahead
- Prices in stores jumped by 8.4% in the year to February
- BRC expects prices to remain high over coming months
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Prices in UK stores rose at their highest rate since at least 2005 in February, as the cost-of-living crisis showed little sign of easing for cash-strapped consumers.
The British Retail Consortium said shop price inflation accelerated to 8.4%, a record for an index that started in 2005, and an increase from 8% in January. Food price increases hit 14.5%, showing that the pressure is highest on essential spending.