Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

UK shop prices rise at fastest rate in six years - British Retail Consortium

Published 03/04/2019, 11:23
Updated 03/04/2019, 11:23
© Reuters. Shoppers walk along Oxford Street in central London

LONDON (Reuters) - Shop prices in Britain recorded the biggest rise in six years in March, mainly due to a sharp increase the cost of non-perishable food, the British Retail Consortium said on Wednesday.

Prices in shops rose by an annual 0.9 percent in March compared with 0.7 percent in February, the highest inflation rate since March 2013.

The driving force behind this increase was an acceleration in food prices, which rose 2.5 percent on the year last month compared with a rate of 1.6 percent the month before.

Non-perishable food prices rose at the highest rate since February 2013, up 3.4 percent on the year - a sharp increase on February's rate of 1.5 percent.

A global rise in cereals prices and unfavourable conditions for onions, potatoes and cabbages in Britain last year had pushed up wholesale prices, the BRC said.

With continuing Brexit uncertainty, upward risks to inflation would persist, the BRC's chief executive, Helen Dickinson, said.

"A chaotic no-deal Brexit ... would lead to higher prices and less choice on the shelves," she warned.

Non-food prices were unchanged from March 2018, slowing from a 0.2 percent increase in February.

Online retailers continued to squeeze down clothing and electrical prices, while there were increases elsewhere.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.