Europe News Desk!! The British Retail Consortium (BRC) has said that prices across the UK rose at a record pace in March, with food prices in particular rising the most. The BRC said prices have peaked now, Xinhua news agency reported. The BRC said on Tuesday that annual price inflation rose to a record 8.9 percent in March from 8.4 percent in February. Meanwhile, food price inflation rose to 15 per cent in March from 14.5 per cent in February. BRC said it is also the highest inflation rate on record in the food category.
Helen Dickinson, chief executive of the BRC, warned that although food prices are likely to ease in the coming months as the country enters the farming season, broad inflation is likely to remain high. The ongoing cost-of-living crisis has also changed the habits of UK shoppers. Mike Watkins, head of retail and business insight at Nilsenic, said more people are coming into stores but spending less. Shoppers are looking for the lowest prices to reduce their weekly food bills. Last week, official data from the Office for National Statistics showed the consumer price index unexpectedly rose 10.4 percent in the 12 months to February, up from 10.1 percent in January.
–IANS
World News Desk!!
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