Wednesday, July 6, 2011
Stock up on sterling, so you can afford higher prices
A sharp rise in the cost of food has seen shop price inflation leap to its highest rate since October 2008, according to the British Retail Consortium. The new research suggests higher petrol and commodity prices lifted the rate to 2.9% in June from 2.3% in May. Food inflation rose to 5.7% from 4.9% - the biggest rise since May 2009 - while non-food inflation rose to 1.3% from 0.8%. Shop price inflation is lower than overall CPI, which currently stands at 4.5%.