British Retail Consortium Warns of Price Increases Due to Middle East Conflict
The British Retail Consortium (BRC) has issued a warning that the ongoing conflict in the Middle East, specifically the US-Iran war, is beginning to impact prices in the UK. According to the latest data from the Office for National Statistics (ONS), the Consumer Price Index (CPI) rose to 3.3% in March, with food inflation increasing to 3.7% from 3.3% in February. BRC economist Harvir Dhillon highlighted that rising fuel prices are a significant factor contributing to these inflationary pressures. While clothing and footwear sectors experienced deflation due to intense competition, the grocery sector is facing mounting cost pressures. The BRC cautioned that if the situation mirrors the aftermath of the Ukraine-Russia conflict, sharper price increases could occur later in 2026. The organization has called on the government to provide targeted support, particularly in addressing non-commodity energy charges faced by retailers. 
