UK data – February Shop Price Index to a record high of +8.4% y/y (prior +8.0%) | Forexlive

British Retail Consortium (BRC) data showing that shop price inflation rose to 8.4%, from 8.0% in January

• prices rose by the largest annual amount across all the main categories monitored by the BRC since records started in 2005

BTC comment:

• “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.

BRC expects retail prices to remain high over the coming months even if the annual inflation rate cools further in the second half of this year.