British Retail Consortium: UK retail prices rise 1.5% in August
Business
Retail prices in the UK went up by 1.5% in August, the biggest increase since early 2024, says the British Retail Consortium (BRC).
Rising energy bills and higher costs for tech parts (thanks to the AI craze) pushed prices up, especially for everyday groceries and electronics.
Food inflation hit a four-month high at 2.8%, with processed foods feeling the pinch from energy and import costs.
BRC chief Helen Dickinson warns shoppers
Electronics got pricier because global demand for memory chips and storage is booming.
Nonfood items saw their fastest price rise since February 2024, reaching 0.9%.
BRC chief Helen Dickinson pointed out that these cost hikes are making things tougher for shoppers, warning that higher energy, commodity, and input costs are feeding through into retail prices.