UK retail prices continued to rise in May, marked by the highest fresh food inflation in a decade
Retail prices in the UK continued to rise in May with inflationary pressures likely to rise before they abate, according to the latest report from the British Retail Consortium and NielsenIQ.
Retail prices rose 2.8% in May versus 2.7% in April, the report said, noting that they were the highest rate of inflation since July 2011.
“With little sign of the cost burden for retailers easing anytime soon, they will have little room for maneuver, particularly for those whose supply chains have been impacted by lockdowns in China and the war in Ukraine,” Helen said Dickinson, British Retail said the managing director of the consortium.
Food inflation accelerated to 4.3% yoy in May, up from 3.5% in the previous month, also reaching the highest inflation rate since April 2012, the report said. Fresh food inflation accelerated to 4.5% in May from 3.5% in April and ambient food prices rose to 4% from 3.5% in the previous month.
Meanwhile, non-food prices fell to 2% in May from 2.2% in April, the report said.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
https://www.marketwatch.com/story/u-k-retail-prices-rose-further-in-may-marked-by-highest-fresh-food-inflation-in-a-decade-271654065315?rss=1&siteid=rss UK retail prices continued to rise in May, marked by the highest fresh food inflation in a decade
