UK News

Cost Of Living Crisis: Shop Prices Have Just Had The Highest Rise In 11 Years

Cost Of Living Crisis: Shop Prices Have Just Had The Highest Rise In 11 Years
UK News

Cost Of Living Crisis: Shop Prices Have Just Had The Highest Rise In 11 Years

Cost Of Living Crisis: Shop Prices Have Just Had The Highest Rise In 11 Years

Brits are facing the highest prices in shops in 11-years. Retails have felt the impact of increasing energy costs and Russia's war in Ukraine.

Cost of Living

Shop prices have gone up by 2.7% in comparison to last year. This is the highest rate of inflation that shops have seen for more than a decade according to new figures.The rise has stemmed from the impact of increasing energy costs and the ongoing war between Russia and Ukraine.In March, the annual inflation of shop prices was at 2.1%. At the end of April it was 2.7%. This 0.6% increase soars above the 12 and 6-month average of 0.4% and 1.5%, according to the index.This is the highest rate of inflation since September 2011.British Retail Consortium chief executive Helen Dickinson has said: "Retailers will continue to do all they can to keep prices down and deliver value for their customers by limiting prices rises and expanding their value ranges, 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."

Is George Eustice, The Environment Secretary, Out Of Touch?

A cabinet minister has been accused of being out of touch after suggesting that consumers should buy value brands in an effort to deal with the rising prices in British shops.George Eustice informed Sky News that: "Generally speaking, what people find is by going for some of the value brands rather than own-branded products - they can actually contain and manage their household budget."Pat McFadden, Labour's shadow chief secretary to the Treasury, commented that: "This woefully out of touch from a government with no solution to the cost-of-living crisis facing working people."People are seeing their wages fall, fuel and food costs rise, and families are worried about how to make ends meet."Wendy Chamberlain, Liberal Democrat work and pensions spokeswomen, stated that the comments showed "the Conservatives are living in a parallel universe".Adding: "Families and pensioners who can't afford their weekly shop need more help, not patronising advice from a clueless minister."

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