Shop prices accelerated in May at the fastest rate in more than a decade, according to new figures that reveal the pressure on retailers to pass on the cost of rising energy bills and the soaring price of imports.
Amid warnings that consumers face further pain in the summer from high street and online price hikes, the latest shop price index from the British Retail Consortium and NielsenIQ revealed retail price inflation of 2.8% in May, the highest figure since July 2011.
