News, with a practical perspective.

We link to the original sources below. Sections labelled “Sandycroft analysis” contain our interpretation and practical suggestions. Product and service links are commercial suggestions from Sandycroft, separate from the source reporting.

SOURCED NEWS SUMMARY

The news

The British Retail Consortium reported on 28 October that 83% of more than 2,000 UK adults surveyed by Opinium were concerned about rising food prices and 82% about inflation ahead of the Budget. The polling records opinion and was commissioned by the BRC; it is not an official inflation measure or a forecast of what the Chancellor will announce.

The BRC’s Shop Price Monitor, published on 27 October and covering 1 to 7 October, reported annual shop-price inflation of 2.1%, up from 1.4% in September. It put food inflation at 2.9%, non-food inflation at 1.7%, fresh-food inflation at 2.6% and ambient-food inflation at 3.2%. Separately, the Office for National Statistics said CPI inflation was 3.5% in the 12 months to September and CPIH was 3.6%. The series cover different baskets and methods, so their rates should not be treated as interchangeable.

SANDYCROFT ANALYSIS

Build a cost basket the business actually buys

Choose the 10 to 20 inputs that drive the business: stock, ingredients, packaging, energy, delivery, payment fees, rent, rates and the labour needed to serve or produce. Record the current unit cost, previous comparable cost, quantity used and supplier evidence. Weight each item by actual spend so a striking increase in a small input does not dominate the whole decision.

Separate temporary movements from contractual changes. A promotional supplier price, fuel spike or one-off short shipment should not automatically reset every selling price. Conversely, a recurring increase in a heavily used input deserves attention even if the national headline is lower. Recheck the basket on a fixed date and retain the invoices or tariff notices supporting the change.

SANDYCROFT ANALYSIS

Test the price and the offer together

Calculate gross margin by product or service before deciding on a blanket percentage rise. Some lines may need a change, some may support a smaller pack or revised specification, and others may be important traffic builders. Set a review trigger using sales volume, waste, stock turn and margin rather than waiting for a single national statistic to tell the business what to do.

If an offer is used to protect demand, make the comparison clear and time-limited. Avoid describing a routine price as a discount without a genuine reference price. For cafés and shops, check that tills, shelf labels, menus, online listings and staff instructions agree before the change goes live; mismatched versions create customer friction and weaken the evidence behind the decision.

SANDYCROFT ANALYSIS

Control the visible materials and team order

Date every printed menu, price card, leaflet and counter notice. Approve the wording from one master file, print a proof and choose a run length that matches how settled the prices are. Promotional mugs or gifts should have a defined campaign, quantity and cost per customer reached; they should not be ordered merely because confidence feels weak.

For workwear or embroidered uniforms, compare the garment, decoration and delivery cost as its own purchasing line. Confirm wear rate, replacement cycle and staff sizes before ordering. A consistent team appearance can support service, but it is not evidence for raising prices and it does not solve inflation. Keeping the purchase separate makes the margin calculation and the customer message more honest.

CHECK THE ORIGINAL REPORTING

Sources & dates