As the Perfume Shop unveil an updated logo and website, trade publication Soap, Perfumery & Cosmetics (SPC) inform us that UK retailers could be hit with an extra £186 million in business rates after the Consumer Price Index (CPI – announced 16 Oct) showed inflation dropped by 2.4% down from 2.7% in Aug.
The figures come in lower than predicted and show the lowest level since Jun 18. This dip could weigh heavily on bricks-and-mortar retailers – who pay an estimated £8 billion annually in business rates – against an already bleak high street backdrop.
