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05 May, 10 British shop price inflation hit a three-month high last month on the back of rising oil prices, according to new figures. Research carried out by Nielsen and the British Retail Consortium (BRC) revealed a two per cent overall increase in retail inflation in April, up from 1.2 per cent the previous month. Food inflation also reached two per cent. BRC director general Stephen Robertson claimed costs were "almost bound to rise", adding: "Oil, which is up 70 per cent over the year, also influenced some non-food prices as manufacturing and transport costs went up." However, he also suggested that British retailers could be over the worst effects of the recent price surge and the weakness of sterling, although he did admit that demand remains "weak". Last month, oil giants ExxonMobil, BP and Shell reported significant rises in profits due to strong sales and the rising value of the commodity, which has traded at over $80 a barrel for weeks. Improve the efficiency of your business and your fleet with the Esso diesel card. Posted by Matt Haskins
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