Inflation hits small firms: ‘Covid was a walk in the park compared to this’

As inflation hits 9%, four English businesses explain how they are negotiating soaring prices

Notifications arrive every day at Loveone, an Ipswich gift shop, heralding price increases of 5% to 10% on products it sells, usually adding a couple of pounds to the sticker price.

If I don't get my orders in by a certain date then I will have to pay more," says Cathy Frost, who has run the shop for 15 years. I can kind of hold my prices for the moment as I ordered stock six months ago, but if the things I'm ordering now are going to be more expensive, I'm asking: Will people pay more?'"