Primark, the fashion retailer from Ireland, has said that it will not be increasing prices further except those already actioned and planned.
The move is seen as an effort to protect sales in a tough economy.
The retailer said that it expected Primark to face a spending slowdown owing to the cost of living crisis hitting customers in its UK market.
It might be recalled that the retailer had implemented price hikes this year to reflect surging energy costs.
Meanwhile, Associated British Foods, which owns Primark, said that its decision to restrict further price hike, along with weak pound and euro, would hit Primark and its margins next year.
The price action will be seen as an effort to protect its market share as shopper demand is tested.
The retailer generated £ 7.79 billion in 2019, and is known for kidswear, womenswear, menswear, homeware and footwear, amongst others.
