Imperial Measures: A Distraction from ‘Partygate’?
- Supermarkets warn of price surge if imperial measurements return
- British Retail Consortium raises concerns over potential increase in costs for retailers
- 12-week consultation on the use of pounds and ounces to be launched by BEIS
The British Retail Consortium (BRC) has warned Prime Minister Boris Johnson that reintroducing imperial measurements could exacerbate the cost-of-living crisis and increase inflation. The BRC argues that updating product labels to include pounds and ounces would add costs for retailers, as they are already allowed to list imperial measures alongside metric ones. Supermarkets are currently dealing with intense inflationary pressures, and introducing new laws could further complicate the situation.
Factuality Level: 8
Factuality Justification: The article provides accurate information about the British Retail Consortium’s warning regarding potential costs associated with changing measurement systems and includes relevant quotes from an assistant director of food at BRC. It also gives a brief history of metric system adoption in the UK.
Noise Level: 3
Noise Justification: The article provides relevant information about a potential policy change and its possible impact on the cost-of-living crisis, but it is quite brief and lacks in-depth analysis or exploration of the issue.
Financial Relevance: Yes
Financial Markets Impacted: Supermarkets such as Sainsbury’s, Asda, and Morrisons
Financial Rating Justification: The article discusses the potential impact of changing measurement systems on supermarket costs and inflation, which affects their financial operations and consumer prices.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in the article.
www.retailsector.co.uk