Retailers Preparing to increase prices in the UK, reduce their task force and reduce investment as a new survey reveals the fastest decline in emotion. In the field Since the epidemic.
According to research by the Confederation of the British industry (CBI), Employment declines in retailers By May in the year, and next month is expected to fall fast.
The CBI quarterly industry gauge showed that the firms are also expected to cut investment schemes in the next 12 months, while they also estimate that the price hike will continue to rise in June.
After the growing company by the government, retailers have been affected by rising costs National Insurance contributions (NICS) in April, A Tax Which makes people more expensive.
According to some surveys, the minimum wage also increased at the same time, while consumer confidence is low after the records in April.
In view of the changes, confidence in the retail field has fallen at the fastest pace in five years.
CBI said that the net balance of companies is expecting Business Minus was 29 percent below reading minus 19 percent in February to deteriorate in the next three months.
The balance of firms expected to increase prices at a quick rate next month was 57 percent.
CBI chief economist Ben Jones said: “It was a quite a downbeat survey and highlights some challenges faced by retail and comprehensive distribution sector.”
He said the firms are “feeling the impact of high NIC and increase in wages of national living”.
“Unlike other recent retail data, the survey suggests that parts of the area are still struggling with delicate consumer demand, although online sales are better holding.
“Our quarterly survey suggests that retailers are hurting back to work, cut back to investment and expecting an increase in sales prices at the fastest speed for more than a year.
The pure balance of firms expected to fall in the headcount next month was 20 percent of the minus minus, while those expecting back to invest back were 47 percent.
