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Uk High Street Inflation Hits 2yr High - B R C Report

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http://www.businessworld.ie/livenews.htm?a...rollingnews.htm

UK high street inflation hits 2yr high

Wednesday, August 02 11:42:48

(BizWorld)
Inflation on the UK high street hit a two-year high in July, according to the British Retail Consortium.
The BRC said its shop price index for July was 0.69pc higher than in the same month in 2005. The increase is the first since September 2005, when the inflation rate was 0.54pc and the largest since July 2004, when the inflation rate was 1.18pc.
'After almost a year of price deflation, July saw an upturn in prices compared to a year ago, driven by seasonal food prices, which have now shown a year-on-year increase for three consecutive months,' said Kevin Hawkins, BRC director general.
'In July 2005 we also saw extremely heavy discounting and this July's increase must be seen against a very low inflation rate last year,' he added.
He believes that retailers continue to resist passing cost increases on to customers.
Compared with June, however, the index fell 0.7pc, after two months of gains. The drop was the second biggest since January and was due to the sales period usual for this time of the year. Non-food items showed a fall of 1.25pc, the largest monthly fall since January. Food, meanwhile, rose for the third month running, rising by 0.44pc from June. Food prices have now shown an increase in five out of the last seven months.

Funny this is in the Irish press--Gordon would not want this kind of news disseminated here in the event it blew cover on the CPI basket?

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Food, meanwhile, rose for the third month running, rising by 0.44pc from June. Food prices have now shown an increase in five out of the last seven months.

However, since it's only food, and not something important like DVD players, it can be removed from the inflation figures.

How much longer can the idiots ignore inflation in vital purchases and concentrate on low inflation in the cost of tat?

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He believes that retailers continue to resist passing cost increases on to customers.

...and people are the greatest cost for any business - increasing unemployment?

Funny this is in the Irish press--Gordon would not want this kind of news disseminated here in the event it blew cover on the CPI basket?

GB/BOE would prefer to keep real inflation under wraps - and so far the VI British press seems compliant...

Edited by dnd

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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