Sir Philip Green has issued a stark warning over the cost of non-food items as manufacturers struggle with the falling value of the pound.
 
The retail legend, who controls BHS and Topshop, said in an interview with The Times that a "double dip" was likely as turbulent market conditions meant the inflation seen in food prices this year was replicated in non-food products.
 
"For the first time, on top of everything else, we are now seeing fairly reasonable, fairly significant cost-price inflation and that could change the landscape totally," he said.
 
"There's been a very sudden and serious devaluation of the pound and there's now a real risk of a double dip - of us facing even tougher conditions - next year."
 
The warning comes with the pound at an all-time low against the euro and having dropped by around 8% against the dollar in the past few weeks.