Two thirds of retailers to hike prices, industry warns

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Two thirds of the nation’s top retailers have warned they will have to raise prices to cope with rising tax bills triggered by chancellor Rachel Reeves’s budget. The British Retail Consortium, whose members include giants like Marks & Spencer and Boots, said 67 per cent of the 52 finance bosses they surveyed said they would raise prices in response to increases in employers’ National Insurance Contributions from April. open image in gallery Retailers are warning of price rises as a result of chancellor Rachel Reeves’s budget BRC chief executive Helen Dickinson said: “With the Budget adding over £7 billion to their bills in 2025, retailers are now facing into the difficult decisions about future investment, employment and pricing. Some 70 per cent of surveyed finance bosses said they were “pessimistic” or “very pessimistic” about trading conditions over the coming 12 months, while just 13 per cent said they were “optimistic” or “very optimistic”.