There's one place shoppers can count on to get a budget wardrobe refresh for going on holiday, or to grab a new top for a special occasion. But it's bad news for many as Primark executive John Bason has announced the fashion firm will have to raise prices in the autumn this year.
Mr Bason says he “regrets” the fashion firm’s decision but that in April, Primark will be forced to increase prices on its autumn and winter collection as costs go up for businesses around the world. The fashion-chain known for it's affordable prices said it would make “selective” increases in the range.
Mr Bason, who is the finance director for Primark’s parent company AB Foods, spoke to the BBC saying: “I do regret that we have to put some prices up. It is a reflection of the scale of the inflation that we’re seeing.” AB Foods is also owner of Twinings and a major sugar producer, said last month the US dollar strengthening and soaring inflation forced the changes.
