UK shoppers face biggest price rises in more than 30 years this Christmas
Shoppers face the biggest price rises in more than 30 years this Christmas after fears of widespread shortages sent people rushing to the shops this month.
According to a survey of retailers by the CBI, the threat of empty shelves caused a high street sales boost in November, despite sharply escalating prices.
The CBI said its monthly retail sales balance, which asks retailers to say if annual sales growth is rising or falling, rose to a three-month high of +39 in November from +30 in October.
CBI economist Ben Jones said: “Christmas seems to have come early for retailers, with clothing and department stores in particular seeing a big upward swing in sales volumes in November.”
Most businesses were also increasing prices compared with the early summer, he said. The …
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