UK retailers raise shop prices by most in 10 years

The British Retail Consortium said on Wednesday - a day before the Bank of England is expected to raise interest rates for a second time in two months - that shop prices rose by 1.5% in January compared with the same month in 2021.

LONDON: British shoppers were hit by the biggest increase in prices charged by major retailers in more than nine years in January, according to a survey that added to signs of accelerating inflation momentum.

The British Retail Consortium said on Wednesday - a day before the Bank of England is expected to raise interest rates for a second time in two months - that shop prices rose by 1.5% in January compared with the same month in 2021.