Business · 1 hour ago
Marks and Spencer shares drop as inflation spike sparks cost worries
Shares in the high street retailer fell four per cent on Wednesday after official figures showed inflation rose to a five-month high of 3.1 per cent in August. Analysts warned that higher inflation could lead the Bank of England to raise interest rates, forcing budget-conscious shoppers to cheaper supermarkets. M&S relies on its food division for more than half its revenue, leaving it exposed to shifting consumer habits.
Reported by City AM · How we write briefs