As consumers navigate the highest levels of inflation in decades, the twin realities of pricing pressures and the impact of war on supply chains, as well as pent-up demand on input costs, have left brands reeling.
The bad news for business is that the current situation seems unlikely to let up anytime soon, with economists predicting that cost-of-living challenges will remain high into 2023 and perhaps even beyond.
The British Retail Consortium saidgrowing shop prices reflect the impact of energy costs, the war in Ukraine and the COVID-19 lockdown in China. Increased protectionism on food exports could, in...