BRC: Shop prices rise at fastest rate in a decade

PRICES in shops rose at their fastest rate in over a decade in February, the British Retail Consortium (BRC) says.

Shop price inflation jumped from 1.5% in January to 1.8% in February, according to the BRC-NielsenIQ price index.

It marks the highest rate of inflation it has recorded since November 2011.

The sharp rise was partly driven by fresh food price rises and higher prices for other goods such as beauty and furniture products.

Many people have been struggling with a cost of living crisis as fuel prices and energy bills continue to soar.

The latest official figures provided by the Office for National Statistics (ONS) showed living costs rising at their highest rate for 30 years.

Non-food inflation rose to 1.3% in February, rising from 0.9% in January which is its highest rate since September 2011, the BRC said on Wednesday.

The inflation rate for fresh food, which measures how quickly costs for everyday items increase over time, rose to 3.3% – up from 2.9% in January, according to the industry group.

The BRC said this was partly because of poor harvests, both in the UK and overseas.