Inflation remains steady in October as CPI stays flat at 2.4 per cent November 14, 2018 Inflation remained steady in October, with the Consumer Price Index (CPI) flat month on month at 2.4 per cent, according to Office for National Statistics data out today. Rising fuel costs and domestic gas prices offset lower prices for food and non-alcoholic drinks, as well as clothing and transport, leading to CPI staying unchanged from its September [...]
Consumer spending falls in October as shoppers continue to abandon the high street November 13, 2018 UK consumer spending dipped in October after having risen for two months, with an e-commerce rebound propping up a two per cent fall in face-to-face sales. Expenditure has fallen in six of 10 months so far this year, adding to a cocktail of concerns for bricks-and-mortar retailers, according to Visa UK Consumer Spending Index data [...]
Eurozone inflation rate lifts to highest level in nearly six years October 31, 2018 Eurozone inflation has risen to its fastest rate in nearly six years led by rising energy prices. The EU's statistics office, Eurostat, said the bloc's inflation rate was expected to be 2.2 per cent in October – above the European Central Bank's (ECB) target of just under two per cent. The euro fell to its [...]
Happy birthday, bitcoin: Onwards to a brave new crypto-fulled world October 29, 2018 A decde ago this Wednesday, just weeks after the collapse of Lehman Brothers and the start of the financial crisis, an anonymous figure published the famous essay – “Bitcoin: a peer-to-peer electronic cash system”. Bitcoin’s mysterious creator, known under the pseudonym Satoshi Nakamoto, has to this day never been unmasked, but his invention has since [...]
Retail sales slide in September as analyst warns future is ‘highly uncertain’ October 18, 2018 Retail sales slipped last month as September recorded the largest decline in food store sales for three years. Sales declined 0.8 per cent compared to August, mainly due to a 1.5 per cent fall in food sales, which is the largest drop since October 2015. Read more: Footasylum records £4m loss as difficult retail environment hits [...]
Danone hit by Morocco consumer boycott and China baby formula decline October 17, 2018 Food company Danone reported it is on track to meet full-year expectations despite a consumer boycott in Morocco and a slump in baby food sales in China. The French company said like-for-like sales grew by 1.4 per cent in the third quarter of the year and that it would target double-digit earnings per share growth. Read more: Inflation [...]
Sterling falls on weaker UK inflation data as food and drink prices drop October 17, 2018 Inflation slowed in September as the prices of meat and chocolate fell, the first fall in the price of statisticians' basket of goods since April. Consumer price index (CPI) inflation fell from 2.7 per cent in August to 2.4 per cent in September, the Office for National Statistics (ONS) said today. The relatively steep fall [...]
Tesco execs stayed silent about a massive hole in its accounts say prosecutors October 9, 2018 Two senior former Tesco executives on trial for fraud in London were presiding over a “car crash waiting to happen” Southwark Crown Court heard today. Sasha Wass QC, prosecuting for the Serious Fraud Office (SFO), said Tesco’s former UK managing director Chris Bush and ex-UK food commercial director John Scouler were aware of a shortfall [...]
Itsu takes a bite out of its losses despite heavy growth investment September 30, 2018 The founder of fast food chain Itsu has claimed “food is the new fashion”, after the company saw its end-of-year losses fall despite investments in overseas expansion. Itsu, which is known for its Asian-influenced food, particularly sushi and rice dishes, saw raw sales growth of 10 per cent last year, with pre-tax losses dropping to £8.9m, [...]
Retail sales beat expectations as shoppers continue spending spree September 20, 2018 Retail sales volumes beat expectations and rose 0.3 per cent in August as British shoppers continued to spend. The Office for National Statistics data showed sales jumped 3.3 per cent on August last year. There were increases across all sectors except food, clothing and petrol. Read more: Retail industry fears 'tipping point' amid looming business [...]