assorted products on metal racks

UK store prices reach new highs

According to the British Retail Confederation (BRC), prices in U.K. stores and supermarkets soared again in the 12 months to September, reaching an all-time high.

According to BRC, prices in stores and supermarkets rose by 5.7%, following a 5.1% increase in the 12 months to August. This was caused by an unprecedented 10.6% increase in food prices as the war in Ukraine drove up the cost of feed, fertilizer, and vegetable oil.

According to NielsenIQ, the market research firm that co-authored the data, 76% of consumers expect to be moderately or severely affected by the cost-of-living crisis in the next three months. This is up from 57% in the summer.

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