BRC Shop Price Index y/y for October shows the first increase in two years, up 0.3% y/y
- prior -0.4%
British Retail Consortium monthly shop price index is an inflation indicator.
BRC citing:
- labour shortages
- rising commodity prices
- rising transportation costs
as contributors to price rises and expect prices to rise higher still in the months ahead.
The next Bank of England Monetary Policy Committee meeting will be on 16 December. After the pivot from Fed Chair Powell Tuesday on inflation perhaps the BoE will follow suit.
