Shop prices hit new records as retail calls for business rates freeze

Grocery-shopper

Shop prices hit record highs in September as retailers looked ahead to the next business rates revaluation with trepidation.

Inflation accelerated to 5.7% in September, up from 5.1% in August. This marked another record month for shop price inflation, according to the BRC-Nielsen IQ Shop Price Index.

Food inflation accelerated to 10.6% in September, up from 9.3% the previous month, representing the highest rate of food inflation on record.

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