BRC: UK retailers raise prices at fastest pace since 2012

According to the latest report published by the British Retail Consortium (BRC), the UK retailers hiked their prices to the highest levels in more than nine years in January as firms pass on soaring food, fuel and transportation costs amid spreading inflation.

Key takeaways

the strain on profit margins meant prices will almost certainly climb further in the coming months. 

“Retailers are working hard to cut costs, but it would be impossible to protect consumers from any future rises.”

“As commodity prices, energy prices and transportation costs continue to rise, it is inevitable that retail prices will continue to follow in the future.”