Budget uncertainty has gone but odds have been stacked against business November 22, 2024 If Rachel Reeves thought certainty would cure the UK economy’s growth problem, she was wrong. She’s just pitted consumers against retailers. This data-heavy week has reflected that uncertainty over the Budget has not been cured by policy which heaps pressure on business. We’ve had inflation rising, debt compounded, inheritance tax receipts soaring, farmers protesting, the [...]
Hospitality firms are bracing for the return of inflation November 21, 2024 October’s inflation figure has worried hospitality firms. While it is not too far above target – 2.3 per cent versus the sweet spot of two per cent – and one month does not constitute a trend, it has exacerbated concerns companies already had about the future of their industry. There are two reasons hospitality is [...]
Inflation surprise scuppers hope of Christmas interest rate cut November 20, 2024 A bigger than expected rise in inflation last month has all but scuppered hopes of a cut to interest rates by the Bank of England in December. While economists had been expecting rising energy prices to push inflation beyond the Bank of England’s two per cent target last month, a sharper than expected lift in [...]
Surging housing costs push inflation back above Bank of England target November 20, 2024 Inflation has risen back above the Bank of England’s two per cent target, the latest data has shown today. According to the latest figures from the Office for National Statistics (ONS) consumer price inflation (CPI) hit 2.3 per cent in October. The figure came in above economists projections. Economists had forecast CPI to come in [...]
Struggles continue at Asda as new owner looks to turn around supermarket giant November 12, 2024 The continuing struggles at supermarket giant Asda have been revealed with both Tesco and Sainsbury’s hoovering up its market share in the UK, according to new figures. Sales at the Leeds-based grocer totalled £4.242bn in the 12 weeks to 3 November, 2024, down from the £4.490bn it reported for the same period last year, the [...]
US election shows voters care more about inflation than growth November 12, 2024 Donald Trump's re-election as President has raised fundamental questions for Labour's economic and political agenda, writes Chris Dorrell
UK economy at risk of higher inflation and slower growth due to Trump tariffs November 6, 2024 During the election campaign, Trump threatened to increase tariffs on foreign imports by between 10-20 per cent while also placing 60 per cent tariffs on Chinese goods.
Bank of England set to lower interest rates as Budget dampens bets for 2025 November 3, 2024 The Bank of England is expected to lower interest rates this week, while markets are betting on fewer cuts next year after forecasts suggested the new government's first Budget will push up inflation.
Eurozone inflation rises faster than expected in October October 31, 2024 New 'flash' figures from Eurostat showed that inflation rose back up to 2.0 per cent, rising from 1.7 per cent in September and slightly higher than markets had expected.
Shop prices fall further in October despite fashion recovery October 29, 2024 According to the British Retail Consortium (BRC), shop prices fell 0.8 per cent in the year-to-October.