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UK shop price inflation slows to 1.4% in September, BRC warns

The British Retail Consortium called on finance minister John Healey to ease business rates in the Oct. 28 budget as Iran war-driven energy costs pressure retailers.

Reported · Written up by our desk · Major Pairs

UK shop price inflation slowed to 1.4% in September, down from 1.5% in the prior month, according to the British Retail Consortium’s survey cited by Forexlive. Food inflation eased to 2.5%, while non-food prices rose 0.8%.

The BRC said its gauge is narrow and backward-looking, and markets are likely to focus more on the official inflation path, which it noted is forecast to climb above 4% next year.

Forexlive reports the BRC urged finance minister John Healey to ease business rates costs in the Oct. 28 budget as pressures from the Iran war build. It added that oil and gas prices tied to the conflict act as an energy swing factor that can quickly shift the inflation outlook and rate and sterling expectations.

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