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Financial News: UK Shop Prices Rise For First Time In

UK Shop Prices Rise For First Time In More Than 2 Years: BRC

12/01/2021 - 00:03:00 (RTTNews)

(RTTNews) - UK shop prices increased for the first time in two-and-a-half years in November on rising food prices, data from the British Retail Consortium showed on Wednesday.

The shop price index gained 0.3 percent year-on-year in November, reversing a 0.4 percent fall in October.

Food prices advanced at a faster pace of 1.1 percent. At the same time, non-food prices dropped only 0.1 percent.

The impact of labor shortages, rising commodity prices and transportation costs have now very clearly taken their hold on consumer prices, Helen Dickinson, Chief Executive at BRC, said.

"With food prices rising, and particularly fresh food - which saw the highest inflation since 2019 - we may find some of our Christmas shopping a little more expensive this year," Dickinson added.

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