Currys says price rises 'inevitable' after Budget tax changes

Published On Dec 12, 2024, 4:31 AM

Currys, an electrical goods retailer, is planning to implement price increases due to tax hikes from the latest Budget, which are set to increase its costs by £32 million. The increases include £12 million from higher National Insurance contributions, £9 million from the rise in minimum wage, and further costs from inflation and supply chain issues. Currys CEO, Alex Baldock, expressed concerns that these cost pressures will dampen investment and hiring, and he expects these increases to be passed on to consumers.