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- UK shop prices record the biggest increase in six years in March - British Retail Consortium
UK shop prices record the biggest increase in six years in March - British Retail Consortium
The British Retail Consortium (BRC) reported on Wednesday that prices in shops rose by an annual 0.9 percent y-o-y in March compared with +0.7 percent y-o-y in February, recording the highest inflation rate since March 2013.
According to the BRC, the March increase was driven by an acceleration in food prices, which climbed 2.5 percent y-o-y last month compared with a rate of 1.6 percent y-o-y in the previous month.
At the same time, non-food prices unchanged y-o-y, slowing from a 0.2 percent y-o-y advance in February.
The BRC noted that "Global commodity prices and weather events pushed food prices up. Rises in global cereal prices pushed Bread & Cereal prices up. Last year’s bad weather meant that a number of UK crops, such as onions, potatoes, and cabbage, saw much lower yields, and, as a result, these products are seeing now significant price increases."
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