Next to raise prices to help pay for rising wage costs

Subsequent has mentioned it should make an “unwelcome” rise to costs to assist offset a £73m enhance in employees wages.

The Excessive Road retailer mentioned that prices will rise on account of measures introduced within the autumn Finances, together with larger Nationwide Insurance coverage funds by employers in addition to a rise within the Nationwide Dwelling Wage.

Subsequent expects costs to extend by 1%, which it mentioned was beneath the present charge of inflation.

Greater than half of firms are planning to raise costs over the subsequent three months to assist with larger prices, the British Chambers of Commerce enterprise group said this week.