Primark says it won't raise prices

British retailer Primark has said they will not raise their prices for spring/summer despite inflation. “Primark prices for the consumer will remain here they are,” John Bason, finance chief of Primark’s parent company Associated British Foods, said to Reuters. “It’s locked and loaded.”

Primark’s competitors, including Next and Marks & Spencer, have all logged price increases. Next has raised prices 3.7 percent in the first half of 2022 and 6 percent in the second half due to increased freight rates and manufacturing costs. The U.K.’s recent end to all COVID-19 restrictions is expected to help Primark’s outlook for 2022.

Most legal restrictions put in place in the U.K. to curtail the spread of the omicron variant will be dropped next week. As of next Monday, face masks will no longer be required anywhere in England.