LONDON, March 31 (Reuters) – British store chains raised their prices a bit more quickly this month and the Iran war risks further pushing up inflation, a retail industry group said on Tuesday.
Shop price inflation edged up to 1.2% in the 12 months to March, above the 1.1% increase in February but below its three-month average of 1.3%, the British Retail Consortium said.
“Higher costs resulting from the conflict in the Middle East are starting to feed into supply chains. While retailers will work with their suppliers to mitigate the impact on prices as far as possible, inflation will rise,” BRC’s Chief Executive Helen Dickinson said.
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(Reporting by Suban AbdullaEditing by William Schomberg)
