Higher Prices Are Coming for British Shoppers, Retail Lobby Says

UK shoppers should brace for a wave of price increases, the retail industry warned as a survey taken immediately after the outbreak of the US-Iran war found higher energy costs had yet to filter through to household budgets.

Prices of goods sold in UK stores rose just 1.2% in the year to March, ticking up from 1.1% in February, the British Retail Consortium said in a report published Tuesday. Economists surveyed by Bloomberg expected a 1.3% increase.