UK retail prices continued to rise in May, and inflationary pressures are likely to rise before they subside, according to the latest report from the British Retail Consortium and NielsenIQ.
Retail prices rose 2.8% in May from 2.7% in April, according to the report, which said they had reached the highest inflation rate since July 2011.
“With no indication that the cost burden for retailers will be eased soon, there will be little room for maneuver, especially for those whose supply chains are affected by the blockade in China and the war in Ukraine,” Helen Dickinson said. the British Retail. said the consortium’s executive director.
Food inflation accelerated to 4.3% in May year-on-year, and more than 3.5% in the previous month, also reaching its highest inflation rate since April 2012, according to the report. Fresh food inflation accelerated in May to 4.5% from 3.5% in April, and ambient food prices rose to 4% from 3.5% in the previous month.
Non-food prices, on the other hand, slowed to 2% in May from 2.2% in April, the report notes.
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