UK shop price inflation hits new high: BRC

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UK shop price inflation hits new high: BRC

STORY: UK shop price inflation hits new high: BRC DATELINE: March 29, 2023 LENGTH: 00:04:13 LOCATION: London CATEGORY: ECONOMY SHOTLIST: 1. various of Bank of England 2. various of a supermarket in London 3. various of a market in London STORYLINE: Prices in shops across the United Kingdom (UK) rose at a record pace in March, especially food prices, said the British Retail Consortium (BRC) on Tuesday. According to the BRC, prices have yet to peak. Shop price annual inflation accelerated to a record 8.9 percent in March, the BRC said. This was up from 8.4 percent in February. Meanwhile, food price inflation soared to 15 percent in March, up from 14.5 percent in February. This is also the highest inflation rate on record in the food category, said the BRC. Helen Dickinson, BRC's Chief Executive, warned that although food prices will likely ease in the coming months as the country enters the growing season, "wider inflation is expected to remain high." The ongoing cost-of-living crisis has also changed t

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