bbc.com

Rising Costs: Major UK Retailers Warn of Price Hikes After Budget Changes

UK retailers, including Sainsbury’s and Marks & Spencer, are preparing for potential price increases as employer National Insurance rates rise following last week’s Budget. Starting in April, the NI rate will jump from 13.8% to 15%, impacting significantly on businesses’ cost structures. Sainsbury’s CEO highlighted a projected £140 million cost for the company due to the changes. BT also plans to adjust prices after estimating a £100 million impact. As inflation concerns grow, these developments suggest shoppers may face higher costs across a range of products and services.

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