
UK clothing and footwear prices rose year-on-year for the first time in four months in February, increasing 0.9% and adding fresh pressure to households already managing elevated living costs.
The latest Office for National Statistics (ONS) Consumer Price Index shows headline inflation holding at 3.0%, while food inflation eased slightly to 3.3%.
Harvir Dhillon, economist at the British Retail Consortium (BRC), warned that the uplift in apparel prices reflects high costs “continuing to filter through,” with retail margins remaining “extremely tight.”
He added that many families still “feel the cumulative impact of previous price increases as conflict in the Middle East blocks key trading routes (with both energy and fertiliser affected” even as some categories – including chocolate and confectionery – posted month-on-month declines.
Dhillon said heightened geopolitical tensions in the Middle East are creating immediate inflation concerns for retailers and consumers. He cautioned there is a “significant risk that inflation will pick up again in the coming months.”
Rising energy and transport costs are expected to put additional pressure on operating expenses across the retail and apparel sectors.
“If commodity price increases are sustained, inflation will not fall to the 2% target this year. It is therefore important that the government does what it can to avoid adding further burdens onto businesses, to help limit the risk of higher prices, reduced investment and fewer jobs.”
At the time Clive Black, head of consumer research at Shorecap Capital Markets, spoke of weakness in apparel and footwear, noting heavily marked-down apparel sales post-Boxing Day, contrasted with stronger momentum in health and beauty, home textiles and toys.
“We do not seek to talk ourselves into a depressed mindset, but in the space of a month or so, things have not changed for the better; the sooner matters settle in the Middle East, in this respect, the better," he added.
"UK clothing inflation climbs as Middle East turmoil threatens wider price rises" was originally created and published by Just Style, a GlobalData owned brand.
The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
LATEST POSTS
- 1
5 Family SUVs for 2024: Which One Accommodates Your Family's Needs\uff1f - 2
New movies to watch this weekend: See 'The Running Man' in theaters, rent 'One Battle After Another,' stream 'Nobody 2' on Peacock - 3
Figure out How to Score Huge with Open Record Rewards - 4
5 Indoor Plants That Further develop Air Quality - 5
Bowen Yang is reportedly leaving 'Saturday Night Live' after this week's episode
Huge rotating structure of galaxies and dark matter is detected
Meet the astronauts about to make history on flight around the moon
'Malcolm in the Middle' reboot releases 1st trailer, reuniting Frankie Muniz and Bryan Cranston: Watch here
Israeli military says it hit dozens of military facilities in Tehran
How did I get my own unique set of fingerprints?
Dozens killed as Angola flood death toll rises
Director Emerald Fennell explains why "Wuthering Heights" has quotation marks around the title
The Best 15 Applications for Efficiency and Association
EU calls on Western Balkans to step up reforms for membership











