This is when shoppers will see prices rise at Sheffield's Primark stores

The budget fashion chain, with stores on The Moor and at Meadowhall, has warned that it will increase prices on its autumn and winter collection as costs go up for businesses around the world.

AB Foods, which owns Primark and Twinings, said it will make ‘selective’ rises in the range, having avoided most pressures from inflation until now because global exchange rates fell in its favour.

The firm is also a major sugar producer, said the US dollar is strengthening and inflation is soaring, which will force the changes.

Chief executive George Weston said: “Inflationary pressures are such that we are unable to offset them all with cost savings, and so Primark will implement selective price increases across some of the autumn/winter stock.

“However, we are committed to ensuring our price leadership and everyday affordability, especially in this environment of greater economic uncertainty.”

Millions of businesses across the UK are also having to make decisions about their prices.

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The cost of the energy they need to operate has rocketed in recent months, and the costs of the raw materials and staff they need are also rising.

It has meant some choosing to pass on these costs to customers, though many are wary as this is likely to discourage people from shopping with them.

Despite price rises, Primark expects to see its sales increase because it is opening more stores, expanding its so-called selling space by 10 per cent compared with the end of the 2019 financial year.

“As a consequence, total sales for Primark in the second half are anticipated to be ahead of the second half of the 2019 financial year, which was pre-Covid,” AB Foods said.

The company added that it has seen a fall in Twinings retail sales over the past six months compared with a year earlier when people were drinking tea at home.

But this was offset by the launch of new products in its Wellbeing range of teas.

AB Foods' pre-tax profit rose 131 per cent to £635 million in the six months to the start of March, as revenue rose by a quarter to £7.9 billion.