Shoppers eye discount brands as increasing costs of essentials bite December 8, 2021 Shoppers are eyeing cheaper prices at discount supermarkets amid increases in the cost of living. Brands to focus on affordable prices have made market share gains over the past 12 weeks, according to fresh data from Kantar. Lidl hit a new record market share of 6.4per cent, while Aldi gained 0.2 percentage points to move [...]
House prices jump 10 per cent in a year amid buoyant market December 1, 2021 House prices are 10 per cent higher than they were last November, and grew 0.9 per cent compared to October, according to an index.
US Fed chief Powell retires word ‘transitory’ to describe inflation December 1, 2021 US Fed Chief Jerome Powell said inflation would stick around for longer than hoped yesterday as a glut of global data suggested rising prices could slow the global recovery. Powell said yesterday it was time to “retire” the word “transitory” to describe the rapid pace of price hikes currently spiking the world economy. His shift [...]
UK economy to return to anaemic growth as cost of living crisis spikes Brits November 30, 2021 A triple threat of a worsening cost of living crisis, higher interest rates and a pulling of government Covid-19 support will throw the UK economy back into an anaemic state, according to new research published today. Swelling energy bills and rising costs for basic necessities will cause households on tight budgets to rein in spending, [...]
Marston’s revenue sinks as ‘worst of pandemic now behind us’ November 30, 2021 Pub company Marston’s reported depleted revenue for the financial year but said trading momentum had rebuilt since the easing of lockdown measures. Total pub revenue for the year was £402m, down 22 per cent on last year, which the operator said was a result of Covid trading disruptions. Andrew Andrea, CEO said: “While there are [...]
When the chips are down: the tiny piece missing from our supply chains November 30, 2021 If you haven’t already bought your tech gifts this Christmas you may have to come up with some more primitive alternatives for your loved ones. Chronic shortages of chips, the tiny semiconductors that are essential to a myriad of technologies, as well as high labor and transport costs, mean that Christmas gifts this year such [...]
Mel Stride MP urges chancellor to slash taxes to ease cost of living crisis November 29, 2021 The chairman of an influential group of MPs that scrutinises the spending plans of the government has told Tory chancellor Rishi Sunak to slash taxes to ease the cost of living crisis looming over Brits. Speaking to the PA news agency, Conservative MP Mel Stride, who chairs the Treasury Committee, called on the chancellor to [...]
Bumper Black Friday and cyber Monday sales are a relic of old consumer habits November 27, 2021 For small businesses, the weekend of bumper sales from Black Friday through to Cyber Monday is not just a race they cannot keep up with, it is a race right to the bottom. No wonder most independents are not taking part. The now classic Black Friday sale is big on discounts and small on nuance. [...]
Soaring inflation in construction could spell disaster for housing in England November 25, 2021 The construction industry has been hit badly by inflation. Material prices are up: in terms of year on year increase, structural steel is at 65 per cent, reinforcement steel is at 62 per cent and plywood is at 56 per cent. Familiar supply chain problems are causing delays, and the cost of both energy and [...]
Millions of Brits plunged into financial crisis by whirlpool of inflation and swelling energy bills November 25, 2021 Swelling energy bills, soaring inflation and stinging food costs have plunged millions of Brits into a winter financial crisis, reveal new figures released today. 3.2m poorer households who rely on wafer thin budgets to meet the cost of living will be unable to pay for basic things, research by Citizens Advice, the charity that supports [...]