Published by Global Banking & Finance Review®
Posted on March 30, 2026
2 min readLast updated: March 30, 2026
Add as preferred source on GoogleUK shop price inflation rose modestly to 1.2% in the year to March, up from 1.1% in February, as tensions from the Iran war begin to feed through supply chains and elevate retailer cost pressures.
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.
(Reporting by Suban Abdulla Editing by William Schomberg)
UK shop price inflation edged up to 1.2% in the 12 months to March 2024, according to the British Retail Consortium.
The Iran war is contributing to higher supply chain costs, which could further push up inflation in the UK.
Annual food inflation in the UK for March 2024 was 3.4%, slightly down from 3.5% in February due to falling dairy prices.
Prices for non-food items rose by 0.1% in the 12 months to March after falling by 0.1% in February.
The Bank of England is watching food prices closely because they influence public inflation expectations, which rose to their highest since 2023 in March.
Explore more articles in the Finance category
