UK shop price inflation picks up, retailers ask government to help

LONDON: British shop price inflation sped up in May on the back of disruption and ​higher energy costs caused by the Iran ‌war, according to a retail industry group which said the government had to do more to keep costs ​down.

The British Retail Consortium’s monthly survey of ​major chains published on Tuesday showed that ⁠prices in May were 1.2% higher than a ​year earlier, up from a 1.0% rise in ​April.

Food price inflation slowed to 2.7%, its lowest in a year, from 3.1%.

Furniture and health and beauty products rose ​by the most reflecting rising raw material and ​shipping costs.

UK inflation dips less than expected in May

BRC Chief Executive Helen Dickinson said the government - which ‌has ⁠pressed supermarkets to slow price increases and flirted with the idea of demanding price caps this month - had to play its part in bringing ​down costs ​for retailers.

“Reducing ⁠the non-commodity charges, taxes and levies that make up more than two-thirds of ​energy bills, and cutting red tape ​would ⁠help keep inflation down,” Dickinson said.

Britain’s broader official consumer price inflation index fell to 2.8% in April but ⁠is ​expected to rise again to ​around 4% in the coming months due to the energy ​price shock.