Why most retailers will increase their prices in 2025

Two-thirds of CFOs have said their business will be forced to raise prices as a result of higher wage bills, according to a new survey. Around 70 per cent of respondents to the survey, which looked at the attitudes of CFOs at 52 retailers, were “pessimistic” or “very pessimistic” about trading conditions over the coming 12 months, according to the British Retail Consortium (BRC). BRC chief executive, Helen Dickinson, said that changes to national insurance contributions have a “disproportionate impact” on retailers and their supply chains, who together employ 5.7m people across the country. Employer’s national insurance contributions (NICs) – a tax on employees’ wages – will rise 1.2 per cent to 15 per cent as of April 6, following Rachel Reeves's October Budget. However, many retailers are struggling more with the second change: the lower threshold for the tax. Get more on the story 👇 https://www.cityam.com/two-thirds-of-retailers-to-raise-prices-in-response-to-increased-ni-costs/ Get more of City AM 👇 🌐 http://www.cityam.com X(formerly Twitter): http://twitter.com/CityAM Facebook: http://www.facebook.com/cityam Instagram: http://www.instagram.com/city_am LinkedIn: www.linkedin.com/company/cityam #retail #retailers #business #politics #politicalnews #economics #economy #economynews #uk #uknews