UK retailers to raise prices in response to budget tax hike, survey shows

Retail Price Increases: A survey indicates that two-thirds of British retailers plan to raise prices due to increased employer social security costs, with many also considering staff reductions and automation as a response to these financial pressures.

Economic Outlook: Retailers are pessimistic about trading conditions for the next year, forecasting significant shop price inflation, particularly in food, while expressing concerns over rising operational costs and the overall strength of the UK economy.