• Friday, August 19, 2022

Business

UK Shop Prices Climb for First Time in 63 Months: BRC

UK Shop Prices Climb for First Time in 63 Months: BRC

By: Radhakrishna N S

Shop prices in the UK rose for the first time in more than five years, 63 months entering the inflationary zone. In August, shop prices rose by 0.1 per cent year-on-year basis, up from the July decrease of 0.3 per cent, said the British Retail Consortium (BRC) in a release on Wednesday (29). Non-food deflation continued to ease in August to 1.0 per cent from 1.4 per cent recorded in July. This is the lowest rate of deflation in the last five years whereas food inflation jumped to 1.9 per cent in August from July’s rate of 1.6 per cent.…

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