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BRC and Nielsen’s latest shop price index has revealed that for the first time in over five years, shop prices entered inflationary territory.
In August, shop prices increased by 0.1%, up from the July decrease of 0.3%. This broke a deflation cycle of 63 months.
“Despite significant increases in costs in the supply chain, this month’s figures show that retailers are keeping price increases faced by consumers to a minimum. However, current inflationary pressures pale in comparison to potential increases in costs retailers will face in the event the we leave the EU without a deal. If that does happen retailers will not be able to shield consumers from price increases,” warns Helen Dickinson OBE, chief executive of BRC.
"The EU and UK negotiating teams must deliver a Withdrawal Agreement in the coming weeks to avoid the severe consequences that would result from such a cliff edge scenario next March."
