This micro-level pricing decision by a major retailer is a leading indicator of cost-push inflation seeping into consumer goods. Combined with geopolitical instability, it may accelerate a rotation out of speculative assets into cash or commodities, while paradoxically highlighting crypto's narrative as an inflation hedge if central bank credibility erodes further.

Next plc

Next announced price increases of up to 8% outside Europe due to costs from the Iran war, with no extra rises in the UK.