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Devaluing pound is likely to drive prices up as imports become more expensive

BRC: ‘Retail prices to rise’

The British Retail Consortium has warned that retail prices for electrical goods are likely to rise in the near future.

According to ERT, while records in recent months have shown that prices have fallen, this deflation may be coming to an end as the value of the pound continues to drop.

The pound has lost half its value against the Japanese Yen and has dropped by 25 per cent against other currencies and the BRC has warned that the electrical goods sector is likely to suffer.

As a result of the currency fluctuations, the cost of importing goods will rise, and with margins already squeezed, these costs are likely to be passed on to the consumer.

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