BRC is the British Retail Consortium. Their measure of inflation is the shop prices index. Up 4.4% y/y in July
- the largest rise since these records began in 2005, but well below official CPI at 9.4% (in June, a 40- year high)
- June was 3.1%
BRC remarks in the report:
- Rising production costs - from the price of animal feed and fertiliser to availability of produce, exacerbated by the war in Ukraine - coupled with exorbitant land transport costs, led food prices to rocket
- non-food items also rose, impacted by higher shipping costs and ongoing COVID-19 lockdowns in China disrupting supply
GBP little changed (this data point is not generally much of an FX mover upon release).
