BRC: Pressure On Prices Continues

Responding to the latest CPI inflation figures which shows headline inflation at 9.4%, and food inflation at 9.8%, Helen Dickinson OBE, Chief Executive of the British Retail Consortium, said:

“Inflation continues to rise, heavily driven by rising production costs. Food prices have been sharply hit by soaring global commodity prices and the rising costs of animal feed and fertilizer, both exacerbated by the war in Ukraine. Across the board, non-food products are being impacted by haulage and shipping costs, whilst surging energy prices are making stores increasingly expensive to run.

“In the face of rising pressures in supply chains and operations, retailers are doing all they can to absorb as much of these costs as possible and look for efficiencies in their businesses. Retailers are expanding their value ranges to offer the widest variety of goods to those most in need, providing discounts to vulnerable groups, and raising staff pay. Until inflation is brought to heel however, it will be a difficult road ahead for households and businesses in the UK.”

Source : BRC

Image : shutterstock.com / 503419588

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