Shop prices are up 2.7 per cent on last year marking their highest rate of inflation since September 2011, figures show.
The effect of rising energy prices and the conflict in Ukraine continued to feed through into April’s retail prices, with no sign of them abating, the BRC-NielsenIQ Shop Price Index shows.
Shop price annual inflation accelerated to 2.7 per cent in April, up from 2.1 per cent in March, and soaring beyond the 12 and six-month average increases of 0.4 per cent and 1.5 per cent, according to the index.
Food inflation accelerated to 3.5 per cent in April, up from 3.3 per cent in March.
But fresh food inflation slowed slightly from 3.5 per cent last month to 3.4 per cent amid fierce competition between supermarkets, which resisted price rises on everyday essentials.
Global food prices have reached record highs, seeing a 13 per cent rise last month, and even higher for cooking oils and cereals.
There have been warnings that they will place further upward pressure on UK food prices as they filter through the supply chain over coming months.
Non-food products, particularly furniture, electricals and books, have had the highest rate of inflation since records began in 2006, accelerating to 2.2 per cent in April from 1.5 per cent in March.
That was assisted by disruption at the world’s largest seaport after Shanghai’s recent lockdown.
“Retailers will continue to do all they can to keep prices down and deliver value for their customers by limiting price rises and expanding their value ranges," said British Retail Consortium chief executive Helen Dickinson.
"But this will put pressure on them to find cost-savings elsewhere. Unfortunately, customers should brace themselves for further price rises and a bumpy road ahead.”
Mike Watkins, head of retailer and business insight at NielsenIQ, said: “Inflation shows no signs of abating and the increase in non-food prices is an extra challenge for the high street as fragile consumer confidence and rising living costs are likely to negatively affect consumer spending.
“With food retailing no longer immune to these pressures, supermarkets are reacting by cutting the prices of some everyday grocery products, including private label, to help limit shop price inflation.”
The National in Davos
We are bringing you the inside story from the World Economic Forum's Annual Meeting in Davos, a gathering of hundreds of world leaders, top executives and billionaires.
COMPANY PROFILE
Name: Cofe
Year started: 2018
Based: UAE
Employees: 80-100
Amount raised: $13m
Investors: KISP ventures, Cedar Mundi, Towell Holding International, Takamul Capital, Dividend Gate Capital, Nizar AlNusif Sons Holding, Arab Investment Company and Al Imtiaz Investment Group
It Was Just an Accident
Director: Jafar Panahi
Stars: Vahid Mobasseri, Mariam Afshari, Ebrahim Azizi, Hadis Pakbaten, Majid Panahi, Mohamad Ali Elyasmehr
Rating: 4/5
What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
Muslim Council of Elders condemns terrorism on religious sites
The Muslim Council of Elders has strongly condemned the criminal attacks on religious sites in Britain.
It firmly rejected “acts of terrorism, which constitute a flagrant violation of the sanctity of houses of worship”.
“Attacking places of worship is a form of terrorism and extremism that threatens peace and stability within societies,” it said.
The council also warned against the rise of hate speech, racism, extremism and Islamophobia. It urged the international community to join efforts to promote tolerance and peaceful coexistence.
Scoreline
Syria 1-1 Australia
Syria Al Somah 85'
Australia Kruse 40'
Gothia Cup 2025
4,872 matches
1,942 teams
116 pitches
76 nations
26 UAE teams
15 Lebanese teams
2 Kuwaiti teams
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
RESULTS
6.30pm: Handicap (rated 100 ) US$175,000 1,200m
Winner: Baccarat, William Buick (jockey), Charlie Appleby (trainer)
7.05pm: Handicap (78-94) $60,000 1,800m
Winner: Baroot, Christophe Soumillon, Mike de Kock
7.40pm: Firebreak Stakes Group 3 $200,000 1,600m
Winner: Heavy Metal, Mickael Barzalona, Salem bin Ghadayer
8.15pm: Handicap (95-108) $125,000 1,200m
Winner: Yalta, Mickael Barzalona, Salem bin Ghadayer
8.50pm: Balanchine Group 2 $200,000 1,800m
Winner: Promising Run, Pat Cosgrave, Saeed bin Suroor
9.25pm: Handicap (95-105) $125,000 1,800m
Winner: Blair House, James Doyle, Charlie Appleby
10pm: Handicap (95-105) $125,000 1,400m
Winner: Oh This Is Us, Tom Marquand, Richard Hannon
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