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READ MOREUK retailers and consumers continue to feel pinch of rising costs - BRC
Inflation in major British store chains hit a new record in the 12 months to February, reflecting the rising cost burden for retailers and consumers, the British Retail Consortium (BRC) said on Wednesday.
Prices rose by the largest annual amount across all the main categories monitored by the BRC since records started in 2005.
Overall shop price inflation rose to 8.4% from 8.0% in January.
"Shop price inflation rose to another record high as retail prices across the board continued to react to the impact of soaring energy bills, higher running costs and tougher trading conditions brought about by the war in Ukraine," BRC chief executive Helen Dickinson said.
Fresh food inflation jumped to 16.3% this month, up from the previous high of 15.7% in January. Other food item prices surged to 14.5% from 13.8% in the month before.
Dickinson said fresh food prices were hit by a weaker sterling, making produce imports from Europe more expensive.
The survey echoed other industry measures of price rises.
Data from market research firm Kantar on Tuesday showed grocery inflation rocketed to a record 17.1% in the four weeks to Feb. 19.
Read more at Reuters
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