Food and farming bosses warn businesses ‘still in meltdown’ amid labour crunch December 14, 2021 Chaos in the supply chain must be resolved to ensure food security in the UK, industry bodies have warned. The farming and producing sectors have been battered in recent months by labour shortages, including abattoir workers and HGV drivers. The industry has also struggled with inflation pushing up costs of energy, feed and fertiliser. The [...]
Record volume of UK factories hike prices in bid to survive inflation assault December 13, 2021 UK factories are hiking prices en masse in a bid to withstand an inflation onslaught, reveal fresh figures released today. A record number of British factories are raising prices as the sector scrambles to offset swelling costs to protect margins, research by BDO and Make UK found. The “eye watering impact of escalating cost pressures” [...]
GDP growth falls short of expectations, inching 0.1 per cent higher in October December 10, 2021 The UK’s economic growth inched just 0.1 per cent in October, according to the latest figures. The figure remains 0.5 per cent below its pre-pandemic level, the Officer for National Statistic found, falling short of economist and analyst expectations after experts had forecast a 0.4 per cent increase. Construction and hospitality were among the hardest [...]
Without securing our trust, public and private leaders will fail our economy December 10, 2021 As we head into winter, with the prospect of more restrictions at a time when trust seems to be in freefall, we have all been reflecting on how this is going to impact our communities and how we can use the opportunity to make the economy work better for all. The first few months of [...]
Inflation to lift off to five per cent as cost living crisis bites Brits December 9, 2021 Inflation will hit heights not seen since the aftermath of the financial crisis, led higher by swelling household energy bills and rising prices for second-hand cars, according to City analysts. The cost of living will rise to five per cent in October, jumping from 4.2 per cent in the previous month, according to Capital Economics. [...]
UK economic growth to slow as Omicron set to fuel inflation and whack spending December 9, 2021 Weaker spending in pubs, bars and restaurants will weigh down economic growth, according to forecasts by City economists. A reduction in the number of diners driven by a combination of inflation eating into consumers’ real income and concerns about catching coronavirus will hit output in the food and accommodation sectors, according to Pantheon Macroeconomics. The [...]
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 [...]
Consumer spending anxiety on the up as households look to cut back before Christmas December 8, 2021 Brits are growing increasingly anxious about the rising cost of living and are dining out less and shopping in cheaper stores. With food and energy bills on the up, more than one in three are nervous they will be unable to pay for essentials, according to a survey of 2,000 UK adults. Almost half of [...]
Cost of Christmas turkey rising fast as inflation pushes up food prices December 7, 2021 The cost of a typical turkey Christmas dinner has risen by 3.4 per cent as rocketing inflation pushes up food prices, according to new figures. Kantar said this morning that the average cost of a Christmas meal for four, with a frozen turkey and all the trimmings, is now £27.48. The figures show wider grocery [...]
Thousands of Tesco distribution workers to strike before Christmas as unions warn of empty shelves December 6, 2021 Thousands of disgruntled Tesco distribution workers across the country are to strike in the run-up to Christmas. Up to 5,000 Tesco workers in the Union of Shop, Distributive and Allied Workers (Usdaw) could take part in industrial action while some 1,200 workers in union Unite are also preparing to strike. Members of both unions are [...]