Letters: Jump on the treadmill July 29, 2022 [Re: Millions of Brits can no longer afford the gym as inflation eat way at budgets, yesterday] The economic crisis we face is one that will affect us for many years to come, and not just in the most obvious ways. We’ve been so focused on making sure people can afford their energy bills – [...]
Nestlé sees resilient demand from shoppers despite Kit-Kat maker boosting prices July 28, 2022 Kit-Kat maker Nestlé was the latest household name to declare that price increases for consumers had failed to offset demand, with sales surging. The London-listed firm admitted it had put up prices 6.5 per cent this year but saw profits soar in six months regardless. In half-year results, the consumer goods giant said total reported [...]
Powell invokes Volcker spirit with second successive 75 point hike July 27, 2022 The US Federal Reserve today doubled down on its efforts to chase down the biggest inflation shock in recent memory by hiking rates 75 basis points for the second time in a row. Chair Jerome Powell and the rest of the federal open market committee backed another big rise to cool America’s overheating jobs market [...]
McDonald’s hikes price of cheeseburger for first time in over 14 years July 27, 2022 McDonald’s has announced it is raising the price of its signature cheeseburger for the first time in 14 years, as cost increases continue to bite consumers and businesses. In a note to fast-food fans, the US titan said that “today’s pressures mean, like many, we’re having to make some tough choices about our prices.” It [...]
Further price rises loom over shoppers after Coca Cola and Unilever reveal hikes July 27, 2022 Shoppers are set to face further wounding price increases in the coming months, as some of the world’s largest consumer goods giants admit that more cost hikes will be passed on to shoppers. Retail chiefs have warned more price increases are on the way, with the British Retail Consortium (BRC)’s Helen Dickinson admitting households and [...]
IMF economy warning reverses FTSE 100 gains despite Unilever’s best efforts July 26, 2022 A bleak set of projections from the International Monetary Fund (IMF) pegging UK growth as the worst in the G7 weighed on London markets today. The capital’s premier FTSE 100 index remained unchanged, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, dropped 1.18 per cent [...]
Homeowners on edge as inflation and interest rates rise: What is next for UK mortgage rates? July 26, 2022 Many people up and down the country will be feeling the financial strain of the cost-of-living crisis, and this’ll only add more pressure on the monthly budgets of millions of UK mortgage homeowners and of those currently looking to buy. With the Bank of England’s base rates having risen to 1.25 per cent in June [...]
UK voters’ concerns on inflation reach highest level in four decades July 26, 2022 UK voter worries on inflation are at their highest since the 1980s as the country faces a severe cost of living crisis and prices of essentials surge. The July 2022 Ipsos Issues Index by research company Ipsos showed that 45 per cent of adults in the UK view inflation as one of the most pressing [...]
Unilever boosts sales growth guidance and suggests not the end of price hikes July 26, 2022 Consumer goods giant Unilever has seen sales propelled more than eight per cent after hiking prices of food and drink to mitigate cost increases. Underlying sales growth of 8.1 per cent was “driven by strong pricing to mitigate input cost inflation, which, as expected, had some impact on volume,” Alan Jope, chief executive officer said [...]
Mr Kipling owner acquires meal-kit brand The Spice Tailor for £43.8m July 25, 2022 Premier Foods has snapped up the Indian and South East Asian meal kits business The Spice Tailor, for an initial £43.8m. The Spice Tailor is anticipated to generate revenue of £17.3m in the 2022/23 financial year, with the Mr Kipling owner enticed by its 20 per cent compound annual growth rate over the last four [...]