UK shop price inflation rises to record high, industry data shows

UK shop price inflation reached its highest rate for at least 18 years in May, despite the pace of food price growth marginally easing, according to new sector data.

The cost of shop items rose at an annual rate of 9 per cent last month, up from 8.8 per cent in April, marking the fastest increase since the British Retail Consortium (BRC) records began in 2005, the trade body said on Tuesday.

However, food inflation decelerated slightly…