British retail prices rise at fastest pace in more than two years
British shop prices rose 1.5 per cent annually in August, driven by higher energy, commodity and electronics component costs.
London, United Kingdom. British retailers raised prices at the fastest annual pace in more than two years in August, as higher energy and commodity costs affected processed food and demand linked to artificial intelligence increased electronics component prices.
The British Retail Consortium’s shop price index rose 1.5 per cent year-on-year in August, up from 0.9 per cent in July and the highest rate since February 2024.
Food and input costs
The British Retail Consortium said higher energy, input and commodity costs were beginning to feed through into prices, particularly for ambient foods that are typically imported and processed.
Electronics prices
BRC Chief Executive Helen Dickinson said electrical prices increased amid the artificial intelligence boom, which has raised the cost of memory chips and storage components.
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