UK consumers likely to face higher prices ‘for many months to come’
UK consumers are expected to face higher prices for an extended period, even if ceasefire talks between the US and Iran succeed. Retailers are struggling with rising costs due to disruptions in global shipping and increased energy prices. The British Retail Consortium warns that significant cost pressures may lead to further price increases in the coming months.
- ▪Shop price inflation in the UK has risen by 1.2% year on year in May, slightly above the three-month average.
- ▪Only 16% of businesses report being unaffected by the ongoing conflict in the Middle East.
- ▪The British Chambers of Commerce found that 80% of companies anticipate an impact from the conflict, particularly in manufacturing.
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Health and beauty products are among the items that have risen most in recent weeks. Photograph: Alamy/PAView image in fullscreenHealth and beauty products are among the items that have risen most in recent weeks. Photograph: Alamy/PARetail industryUK consumers likely to face higher prices ‘for many months to come’ Data shows even if Iran war ends, shop price inflation on rise, while only 16% of firms left unscathed by conflictRob DaviesTue 26 May 2026 00.00 EDTSharePrefer the Guardian on GoogleHigher prices could persist over the summer even if ceasefire talks between the US and Iran bear fruit, consumers have been warned, with economic shock waves likely to be felt “for many months to come”.Disruption to global shipping, coupled with soaring prices for energy and raw materials, have…
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