UK shop price inflation rises to its highest level in more than two years in August, according to a British Retail Consortium-linked measure. The in-store inflation rate increases to 1.5% year on year, up from 0.9% in July, indicating retailers raise prices at a faster pace.
The reports say higher energy costs push up the prices of some processed and packaged foods, including items such as tinned goods. One dataset cited by outlets shows food categories contribute strongly, with tinned and packaged food rising 2.5% year on year in August. At the same time, technology pricing is affected by demand for artificial intelligence-related products, which is linked to higher costs for consumer electronics that depend on similar supply chains and components.
