UK shop price inflation highest since 2024 as retailers struggle to limit price rises

UK shop price inflation 'highest since 2024' as retailers struggle to limit price rises

• UK shop price inflation rose to 2.1% in October, the highest since 2024, according to the British Retail Consortium. • Food inflation reached 2.9% while non-food prices rose 1.7%. • The BRC warned the dam is breaking on retailers' ability to absorb cost increases. • The figures land ahead of Wednesday's budget, with the Bank of England expected to raise interest rates from 3.75% to 4%.