Andrew Bailey fell asleep on inflation and now it is workers who will face the flames February 17, 2022 Is there a comfortable chaise longue in the office of Andrew Bailey, Governor of the Bank of England? I think we should be told. Because it has become apparent that the Bank has been asleep on the job. In the year to December 2021, consumer prices rose by 5.4 per cent. We have to go [...]
Inflation nears 30-year high as consumer price index climbs to 5.5 per cent February 16, 2022 UK inflation has remained at a near 30-year high after rising further in January as Britain remains in the grip of a tightening cost-of-living squeeze, according to official figures. The Office for National Statistics (ONS) said Consumer Prices Index (CPI) inflation reached 5.5 per cent in January, up from 5.4 per cent in December and [...]
UK inflation to scale even higher as cost of living squeeze tightens February 14, 2022 Inflation will soar even further above a near three decade high this week as the squeeze on households tightens its grip, City experts are betting. Fresh figures released by the Office for National Statistics (ONS) on Wednesday will reveal the the cost of living is running at 5.5 per cent, according to the consensus forecast [...]
Stateside inflation climbs to four decade high dialling up pressure on US Fed to go further and faster February 10, 2022 Stateside inflation is running at its hottest rate since the early 1980s, piling even more pressure on the US Federal Reserve to launch a stauncher and faster rate hike cycle. Prices in the US are 7.5 per cent higher than they were a year ago in January, according to fresh figures published today by the [...]
Perfect storm of rising costs to hit retail return February 8, 2022 Total retail sales jumped 7.5 per cent during January compared to the same month in 2020. However, retail bosses have warned consumers and firms face a challenging few months ahead with a perfect storm of rising costs. Shoppers were less eager to buy non-food items in stores over the three months to January, compared to [...]
M&S remains UK’s fastest growing supermarket catching up with Big Four grocers February 8, 2022 Marks & Spencer has maintained its position as UK’s fastest growing food retailer, market researcher NielsenIQ said today, indicating its turnaround plan is gaining momentum. It said M&S’s sales rose 12.3 per cent in the 12 weeks to January 29 year-on-year, giving it a market share of 3.6 per cent, up 0.4 percentage points on [...]
Ocado shares plummet 10 per cent as investors show anxiety towards ‘resilient’ growth February 8, 2022 Ocado’s shares are taking a beating this afternoon, with investors appearing unimpressed by group revenue and international expansion. Despite the online retailer reporting that group revenue was up 7.2 per cent to £2.5bn for the full year, shares plummeted as much as ten per cent this morning. It comes after Ocado, which is a 50:50 [...]
Cobra chairman: ‘No running away’ from beer price increases February 7, 2022 Price hikes for beer are a “necessity” against a backdrop of spiralling costs faced by businesses, according to the founder of Cobra Beer. Firms have been hit with rising costs across the supply chain, including manufacturing, energy and labour with consumers facing rising food prices and utility costs. The food and drink industry faces a [...]
Tesco chief: ‘The worst is yet to come’ as energy crisis set to push food prices higher February 7, 2022 Tesco chairman John Allan issued a stark warning on rising food prices yesterday, cautioning “the worst is yet to come” in the coming months. While the supermarket boss said it was troubling people were facing heating or eating, Allan said Tesco had also been hit with soaring energy costs. The average amount of household income [...]
Cost of living crunch to derail UK economy in bruising day for living standards February 3, 2022 A double whammy of bad news today laid bare the scale of the blow the cost of living crisis will deal the British economic recovery, with the energy price cap set to spike by 54 per cent and GDP forecasts slashed by the Bank of England. Ratesetters at Threadneedle Street hiked the interest rate to [...]