UK data - BRC shop price index (an inflation indicator) -0.4% y/y in March (expected -0.4)

UK BRC Shop Price Index for March 2024: -0.4% y/y

• expected –0.4% and prior –0.7%

British Retail Consortium data.

via Reuters:

• BRC Chief Executive Helen Dickinson said the introduction on April 6 of higher social security contributions for employers - which were announced in finance minister Rachel Reeves' first budget in October - would combine with other increased costs for businesses to raise prices. "With retailers bracing for significant extra costs which kick in later this week as a result of the budget, inflation will likely accelerate in the coming months,"