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Dow Jones Newswires: U.K. retail prices hit new record high in September

U.K. retail prices rose further in September, surpassing last month’s record levels, according to the latest report by the British Retail Consortium and NielsenIQ.

Retail prices rose 5.7% in September, up from 5.1% in August, the report said.

“[The U.K.] Government must urgently freeze the business rates multiplier to give retailers more scope to do more to help households,” said British Retail Consortium Chief Executive Helen Dickinson.

Annual food inflation accelerated to 10.6% in September, compared with a 9.3% rise in August and a 7.0% increase the prior month, the report said.

Fresh-food inflation accelerated in September to 12.1% from 10.5% in August, while ambient food inflation increased to 8.6% from 7.8% the prior month. Nonfood annual inflation also rose to 3.3% from 2.9% in August, according to the report.

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