Shoppers warned of price surges in Christmas run-up as families at risk of energy debt

Asia's Tech News Daily

Shoppers have been warned to brace themselves for higher prices in the run-up to Christmas.

It comes as a study shows the surge in energy prices risks leaving two in five families in debt with suppliers.

Trade body the British Retail Consortium says shops are having to pass on rising costs such as higher wages and supply chain issues.

BRC chief executive Helen Dickinson said: “Three in five retailers expect prices to increase in the run-up to Christmas.

“The ongoing labour shortages are making the situation worse.

“Retailers continue to do all they can to ensure value for money and are looking to work with Government to find a long-term solution to these shortages, otherwise it is the British consumer, already [facing] higher energy bills this winter, who will suffer the consequences.”

How will you be affected? Join the discussion in the comment section

Dettol maker Reckitt yesterday became the latest big producer to warn it will raise prices for retailers.

The firm, which also makes Calgon, Air Wick and Durex, is aiming to claw back a 10% jump in costs.

Amid cut-throat competition, retailers are likely to absorb some of the hikes but will find it increasingly hard to keep doing so as time goes on.

The energy bills fears have been revealed by Comparethemarket.com which found a £76 annual rise is enough to put many households with children into financial difficulty.

Millions are being hit with a typical £139 a year hike after Ofgem upped its price cap this month to help suppliers recover a jump in costs.

The Compare the Market survey found 43% of families think that if energy bills increase it will push them into debt with their energy provider.

One in six families with kids at home is in arrears with their supplier or have been in the past year.

  • The typical price of a pint of lager in a pub (£3.88) is almost three times what it is in a supermarket (£1.38) due to duty charges, research shows.
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