PRICES on shop shelves have soared to an almost 11 year high, according to the latest BRC-NielsenIQ Shop Price Index.
The British Retail Consortium’s measure found shop price annual inflation accelerated to 2.1% in March, with food inflation hitting 3.3%, up from 2.7% in February.
David Lonsdale, director of the BRC affiliated Scottish Retail Consortium, said: “Scotland’s retailers are working hard to keep shop prices down, however, cost pressures in the supply chain have built up and are being compounded by higher commodity prices.
“Upcoming increases in government-imposed costs will only add to the strain. These pressures are outweighing the impact of strong competition between shopkeepers, who have little margin to work with.”
