LONDON (dpa-AFX) - UK shop price inflation accelerated to its highest level in two and a half years in October, the British Retail Consortium said Tuesday.
The shop price index climbed 2.1 percent year-on-year in October, faster than the 1.4 percent increase seen in September.
Non-food inflation advanced to 1.7 percent from 0.8 percent, while food inflation increased to 2.9 percent from 2.5 percent last month.
'The dam is starting to break on the huge wave of costs retailers have absorbed over the last two years,' BRC Chief Executive Helen Dickinson said.
Despite retailers delivering plenty of promotions on sweet treats ahead of Halloween, food inflation increased again and non-food inflation climbed to an almost three-year peak, Dickinson noted.
Dickinson said retailers cannot endlessly absorb higher business rates, employment costs, energy bills, and packaging taxes. Ahead of tomorrow's Budget, she urged chancellor to slash employment costs and cancel the 3.5 percent business rates increase.
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