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UK Shop Price Inflation Hits Fresh Record High: BRC

March 28, 2023


UK shop prices logged another record increase in March due to the historical growth in food and non-food prices, data from the British Retail Consortium showed Tuesday.

The BRC- NielsenIQ shop price index increased 8.9 percent on a yearly basis in March, faster than the 8.4 percent rise in February.

The annual growth was primarily driven by another record 15.0 percent growth in food prices. Non-food prices also posted a record gain of 5.9 percent.

Despite hitting a new record high, the BRC cautioned that shop price inflation has yet to peak.

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