The British Retail Consortium has indicated that rising headline inflation, which stands at 3.5%, is adversely affecting consumers, particularly in food costs, where inflation has reached 3.4%. Kris Hamer, the BRC Director, noted that the increase in costs due to the National Living Wage and utilities has led to higher prices for consumers. However, there is some relief, as retailers have seen year-on-year price drops in furniture and clothing, aided by promotions. To address these inflationary pressures, the government should aim to reduce business costs and support responsible employers.
Headline inflation in the UK has reached 3.5%, impacting food prices significantly, while furniture and clothing prices have seen reductions due to promotions.
Rising costs including the National Living Wage and utilities have contributed to food inflation, now at 3.4%, making it tougher for consumers.
Despite rising food inflation, there are still bargains to find, particularly in dairy products, which have seen price drops this past month.
To alleviate rising prices, the government should work to reduce business costs and focus on protecting responsible employers within the retail sector.
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