Economics
U.K. Stores Break Five Years of Deflation in Summer Heat Wave
- Drought pushes up food costs, allows stores to discount less
- Fashion chains keep cutting prices as clothes stay on racks
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U.K. shop prices rose for the first time in over five years as the summer heat helped pushed up food costs.
Prices in stores edged up annual 0.1 percent in August, breaking the 63-month deflation cycle, Nielsen and the British Retail Consortium said in a report on Wednesday.