
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
Top 15 Supportable Design Brands Coming out on top - 2
How to sound like an astronaut as you follow the first human moon mission in more than half a century - 3
Heavy rain, floods kill at least 45 people in Afghanistan, Pakistan - 4
Hundreds of Intact Dinosaur Eggs Emerge From 72-Million-Year Time Capsule - 5
Freed whale gets stranded again off German coast
Reclassifying Achievement: Individual Accounts of Seeking after Interests
Surging measles cases are 'fire alarm' warning that other diseases could be next
German state railway loss widens, passengers warned of trouble ahead
Figure out How to Stay away from Normal Handshaking Missteps
An eye for an eye: People agree about the values of body parts across cultures and eras
Doggie diversity in size and shape began at least 11,000 years ago
Tehran synagogue damaged by missile strike according to Iranian media
Vacation destinations in America
Famous Rough terrain Vehicles for 2024













