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Inflation in UK Shops Hits Record With Little Sign of Relief

From bnnbloomberg.ca

Prices in UK stores are rising at a record pace as the cost-of-living crisis shows little indication of easing. Shop price inflation accelerated to 9% this month, a new peak for an index that started in 2005, the British Retail Consortium said Tuesday. That’s an increase from 8.8% in April. There are signs that inflation is becoming entrenched in the UK and that Brexit has exacerbated the cost-of-living crisis. Consumers are prioritizing their spending on pricey essentials like food and energy and cutting back wherever possible. “To help mitigate the impact of inflation, shoppers are saving money by looking for ... (full story)

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  • Category: Fundamental Analysis