Helen Dickinson OBE Predicts Faster Price Hikes
- Shop price annual inflation increased to 0.8% in December
- Inflation expected to continue rising in 2022 due to cost pressures
- Retailers can no longer absorb increasing costs
According to a recent study by the BRC, shop price annual inflation increased to 0.8% in December from 0.3% in November, indicating that consumers can expect further price rises in the new year. Helen Dickinson OBE, chief executive of the British Retail Consortium (BRC), has stated that consumer prices will continue to rise at a faster rate due to retailers being unable to absorb the cost pressures arising from expensive transportation, labour shortages, and rising commodity and global food prices.
Factuality Level: 7
Factuality Justification: The article provides relevant information about shop price inflation and its increase from November to December based on a recent study by the BRC. However, it could provide more context or details about the factors contributing to this acceleration and potential reasons for the rise in prices in the new year.
Noise Level: 7
Noise Justification: The article provides relevant information about inflation rates and a forecast for future price changes, but it lacks depth and analysis. It could benefit from more context or explanation of why prices are rising and potential consequences for consumers.
Financial Relevance: Yes
Financial Markets Impacted: The inflation rate impacts consumer spending and can affect various industries and companies’ profitability.
Financial Rating Justification: This article discusses an increase in shop price annual inflation, which is a financial topic as it relates to the economy and consumer behavior. Additionally, it mentions that prices are expected to rise in the new year, potentially impacting businesses and their performance in financial markets.
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 this article. It discusses a rise in shop prices due to inflation.
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