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Bloomberg
Prices in British shops hit a fresh record high, heaping more pain on consumers grappling with soaring energy and housing bills.
The British Retail Consortium said shop price inflation accelerated to 5.7% in September, topping the previous 5.1% record increase in August. This is highest level of inflation since the index began in 2005 as retailers pass on their surging costs to consumers.
Shoppers hunting for non-food items also faced higher prices with inflation accelerating to 3.3% in September, up from 2.9% in August. Bulky items, such as sofas and garden furniture, have been harder hit by rising transport costs.
“Retailers are battling huge cost pressures from the weak pound, rising energy bills and global commodity prices, high transport costs, a tight labour market and the cumulative burden of government-imposed costs,†said Helen Dickinson, chief executive officer of the BRC in a statement.