Wednesday, 5 May 2010

Shop prices pushed higher by rising petrol costs

Annual shop price inflation hit its highest level since January last month as soaring petrol costs pushed up food prices, figures revealed on Wednesday.

The annual rise in the cost of retail prices leapt to 2pc in April - reversing recent sharp declines - according to the latest British Retail Consortium (BRC)-Nielsen Shop Price Index.

Food inflation rose to 2pc after having dropped to 1.2pc in March, which was its lowest level in the history of the index.The BRC said rising commodity prices, such as oil and cocoa, have put the cost of food under pressure.

Non-food prices also saw a significant rise from 1.3pc in March to 2pc last month - marking the highest level since the survey began in 2006. more...


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