The pace of price rises in UK shops rose to its highest level in two years in August, a trade body index shows, with higher energy costs pushing up the price of food and AI chip demand making technology more expensive.
In-store inflation stepped up to 1.5% year on year in August, up from 0.9% in July, led by prices for tinned and packaged food which increased by 2.5% against 1.1% in the prior month, according to data from the research company NIQ for the British Retail Consortium.
