UK shoppers cutting back even on essentials, warns Poundland owner

Pepco says ‘acute spike in inflation’ and lack of wage rises forcing consumers to spend less

The cost of living crisis has prompted UK shoppers to cut back even on essential items as wages fail to keep pace with inflation, the owner ofPepco Group, which owns Poundland in the UK, Dealz in Ireland and the Pepco chain across Europe, said that while the absolute levels of inflationary pressure were greater in central and eastern European markets, higher wages in those regions were substantially offsetting this in the short term.

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