As food price inflation jumped from 10.6% to 11.6% last month, even the humble cup of tea is now more expensive as tea bags, milk and sugar have all risen in price.
Businesses are also having to pay more to transport produce because oil and gas prices are at all-time highs.
‘With Christmas fast approaching, customers are looking for any sign of respite, but it is increasingly difficult for retailers to shoulder the ongoing supply chain pressures.’ The Treasury said the government’s review of business rates had led to ‘almost £7 billion of support to reduce the burden of rates’ for businesses over the next five years.
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