Shepherd Neame: Pub prices to rise as Budget costs hit March 19, 2025 UK hospitality chain Shepherd Neame, Britain’s oldest brewer, has said it will increase prices at its pubs to deal with cost pressures from the government’s tax raid on businesses. The national living wage and employers’ national insurance contributions (NICs) will both increase from April, as announced in last October’s budget. The increase in labour costs [...]
VR headsets and sliders kick DVDs and turkey out of inflation basket March 18, 2025 VR headsets, yoga mats and sliders have been added to the inflation basket of goods as DVD rentals and minced turkey have been knocked off. The items included in the consumer price inflation (CPI) basket of goods and services, which is compiled by the Office for National Statistics (ONS), are designed to reflect Britons’ typical [...]
Bank of England expected to hold rates as inflation persists March 17, 2025 The Bank of England is widely expected to hold interest rates steady at 4.5 per cent this week as wage growth and inflation data remains sticky. Most analysts are expecting a seven to two vote in favour of a hold from the Bank’s Monetary Policy Committee, with external members Swati Dhingra and Catherine Mann voting [...]
Trump tariff war set to send cost of Guinness soaring March 13, 2025 Donald Trump’s trade war is set to send the price of Guinness soaring to new highs, a financial expert has warned. Trump’s stand-off with Mexico and Canada, now followed by tariffs on Britain and the EU, is having a knock-on effect that might hit drinkers in the pocket. The price of a pint of Guinness [...]
Households feeling poorer despite wealth jump March 7, 2025 Six in ten UK households do not feel financially comfortable despite their wealth having risen by an average of 12 per cent in the last year thanks to better savings rates and good investment performance. According to a fresh study looking at wealth across Britain, the mean household has seen its assets – spanning savings, [...]
The four factors set to raise inflation this year March 7, 2025 Inflation will briefly hit 3.6 per cent this year and “remain well above” the Bank of England’s target until late 2026, according to Oxford Economics. In a report led by UK economist Edward Allenby outlined the four key drivers of inflation in the upcoming year. Changes in the Budget Allenby highlighted the VAT slapped onto [...]
Bank of England warns ‘age of uncertainty’ stopping rapid rate cuts March 5, 2025 An “age of uncertainty”, especially over the path of inflation, means that rapid interest rate cuts are unlikely to be coming to the UK, top Bank of England officials have said. Huw Pill, chief economist at the Bank of England, said the central bank was unlikely to make “larger and more rapid cuts to interest [...]
Lower retail prices drive shops into deflation March 4, 2025 Prices in UK shops continued to fall in February, as discounting in retail offset high grocery prices. Shop prices fell by 0.7 per cent year on year in February against a decline of 0.7 per cent in January, driven by a 2.1 per cent drop in retail prices. “Discounting is still widespread in fashion as [...]
Oak Furnitureland battles rising costs as sales cut March 3, 2025 Oak Furnitureland remains in the red as a catalogue of issues impacted its sales during its latest financial year. The Swindon-headquartered retailer has revealed its revenue fell by 17 per cent to £236m in the 12 months to the end of June 2024 because of “a soft market, the Red Sea disruption and the subsequent [...]
Consumer confidence rises in February but cost-of-living crisis ‘far from over’ February 21, 2025 Brits’ confidence rose in February, fueled by better personal finances and a brighter outlook on the general economy. However, confidence remained down on last year. GfK’s index measuring changes in personal finances during the last year rose three points to -7, seven points better than February 2024. The major purchase Index rose three points to [...]