UK shop prices grew at the fastest pace since 2008, reflecting the cost of living crisis, data published by the British Retail Consortium showed on Wednesday.
The BRC-NielsenIQ shop price index increased 3.1 percent on a yearly basis in June, following May's 2.8 percent rise. This was the biggest annual growth since September 2008.
Food prices were up 5.6 percent annually and non-food prices advanced 1.9 percent.
BRC Chief Executive Helen Dickinson said as households face the biggest real-terms cut in income since at least 1970s and businesses grapple with upstream supply chain costs, retailers remain focused on protecting their customers.
"As inflation accelerates due to rising energy, travel and now food costs, shoppers are now more likely to cut down on out of home consumption, shop to a fixed budget, switch to cheaper private label and seek out retailers where prices are the lowest," Mike Watkins, Head of Retailer and Business Insight, NielsenIQ, said.
