Inflation in Europe rises to record high, raising spectre of steep ECB interest rate hikes March 2, 2023 European inflation is running at record levels, piling pressure on the European Central Bank (ECB) to keep hiking interest rates aggressively this year. The rate of core price increases bumped to a record 5.6 per cent last month, up from 5.3 per cent and up to the highest level since records began in 1999, according [...]
High fertiliser prices add £78m per month to farmers bills, says ECIU March 1, 2023 High fertiliser costs are adding £78m to farmers’ monthly bills amid fresh food shortages, according to the ECIU.
Food inflation reaches 14.5 per cent and looks set to remain high, new data reveals March 1, 2023 Food inflation reached a staggering new high of 14.5 per cent in February, according to new data, with retail groups predicting that prices will continue to rise over the coming months. While inflation more broadly has started to come down, food inflation soared to 14.5 per cent in February, up from 13.8 per cent the [...]
ECB expected to hike rates to a record four per cent as central bank struggles to tame inflation February 28, 2023 The European Central Bank (ECB) will hike interest rates to their highest level since the monetary authority of the group of countries using the euro was created in 1999, markets are betting. President Christine Lagarde and the rest of the governing council, Europe’s equivalent to the Bank of England’s monetary policy committee, are poised to [...]
Ocado not for you: Three reasons why online grocer’s results may not be as bad as they seem February 28, 2023 Ocado’s crown as the online food retailer which keeps the middle classes stocked in organic essentials has been threatening to slip for a while now. As one of the companies which sits at the ‘higher-end’ of the online supermarket price point the rising cost of living, not to mention higher mortgage interest rates, was expected [...]
Primark owner Associated British Foods ‘dodging most economic bullets’ as outlook improves February 27, 2023 Primark owner Associated British Foods has upped its outlook for the full year after reporting a jump in sales at the budget fashion chain as consumer spending held up better than expected. The group said sales at the retailer, which has 419 stores, are set to rise by 16 per cent at actual exchange rates [...]
Fruit and veg shortage will get worse before it gets better, warn farmers February 25, 2023 The National Farmers’ Union (NFU) has warned that shortages of some fruit and vegetables in UK supermarkets could be “the tip of the iceberg”. NFU deputy president Tom Bradshaw said a reliance on imports has left the UK vulnerable to “shock weather events”. Soaring energy bills exacerbated by the war in Ukraine have also put [...]
Explainer: If the middle class can’t afford electric cars, what about everyone else? February 23, 2023 Green innovation always had one big problem to grapple with: affordability. Healthy, organic food is great, but not as long as it’s affordable only for the privileged few clients of Planet Organic. A pair of sustainable socks can cost you up to £30. This is not to say that those who can afford to make [...]
Isa explainer: should you go for cash or stocks & shares? February 23, 2023 Savers have just over four weeks to make the most of this year’s tax-free savings allowance. We look at the different types of ISA available and how to find the one that’s right for you. Individual Savings Accounts, or Isas, were introduced by the government to encourage more people to save and allow savers to [...]
Inflation bites into profits of Actimel owner Danone with sales up 13 per cent to £23.7bn February 22, 2023 French food giant Danone, producer of Actimel, has reported a full year increase in sales but admitted that soaring inflation and a hike in costs had impacted its profit margin. The food manufacturer said sales increased to €27.7bn (£23.7bn) in 2022, up 13.9 per cent on a reported basis and 7.8 per cent on a [...]