Britain’s Currys warns price rises inevitable in 2022

LONDON (Reuters) – British consumers should expect to pay more for electricals and technology products in 2022, the boss of Currys, the country’s biggest electricals retailer, said on Friday.

“One of the things that we do expect across the market in 2022 are some price rises, we think that’s inevitable,” Chief Executive Alex Baldock told reporters after Currys updated on Christmas trading.

“The direction is definitely inflationary. That’s one of the contributors … also to the uncertainty in the outlook because consumers are keeping a close eye on the cost of living at the moment,” he said.

Baldock added, however, that Currys would stand by its price promise to be the cheapest in the market.

(Reporting by James Davey; editing by Michael Holden)