High-street retailer Next has said it will increase its prices less than expected this year.
In January, the chain warned of an 8% price hike this spring and summer and a further 6% rise this fall.
But on Wednesday, it said price increases in the second half of 2023 would be less severe than previously thought due to falling shipping and production costs.
It came as the retailer reported a big jump in sales and profits for the year ended January.
On Tuesday, the retailer also announced it would buy fashion brand Cath Kidston for £8.5million but not its stores.
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