Businesses and households squeezed

Responding to the latest CPI inflation figures which shows headline inflation at 9.1%, and food inflation at 8.6%, Helen Dickinson, Chief Executive of the British Retail Consortium, said:
“Households and businesses in the UK are continuing to feel the squeeze from rising prices, as higher energy prices, a tight labour market and increasing transport and commodity costs filter through to consumers. Fierce competition for market share means that retailers will continue try to absorb as much of these costs as possible and look for cost-savings elsewhere.”

“Retailers are working hard to do what they can to protect their customers from price rises, including by expanding value ranges, keeping the cost of essentials down and providing discounts for certain vulnerable groups. With inflation only set to rise, the BRC will continue to work with retailers to find ways to mitigate future price rises.”