Retail Storm Brewing Before the Budget Hits the Street
Retailers and supermarkets are already feeling a push up on prices even before the new Budget takes effect.
Stop the Cash Flow: Christmas Dinner Could Add £50 to Your Family Budget
The latest British Retail Consortium‑NielsenIQ Shop Price Index shows January’s 17‑month downward trend in store prices is finally being halted by the Budget’s tightening leash. Food inflation has crept up to 1.8%, thanks to muddy harvests and the rising cost of winter imports.
What the Booms and Busts Are Saying
- British Retail Consortium (BRC) warns of “significant price pressures” that could strain shoppers.
- Julian Jessop from the Institute of Economic Affairs cautions: “These figures are worrying because shops are starting to feel upward pressure, and that’s before the Budget’s impact reaches from April.”
- Shadow Business Secretary Andrew Griffith says, “British businesses are suffering; it’s the consumers who are paying for Labour’s budget blunders.” He adds, “It’s no surprise after the summer’s gossip‑sheet talking about the economy and the record‑high taxes.”
- Rain Newton‑Smith, CBI chief executive notes, “The rise in national insurance and reduced thresholds caught us off guard, while the hike in the National Living Wage also burdens businesses. The Employment Rights Bill may add more heft.”
Wise Up: What’s Coming for Your Wallet?
The impending national insurance bumps, increased minimum wage, and a potential new rights bill all mean that the cost of goods is expected to climb higher. Expect those prices to trickle down to you sometime soon.
Stay in the Loop
Want real‑time updates? Subscribe now and get the latest scoop straight to your device, so you’re always one step ahead of the next price hike.
