US inflation jumps to three-year high as gas prices soar May 17, 2016 Prices in the United States jumped by their highest amount in more than three years during April, as inflation hit 0.4 per cent, putting more steam behind the chances of further interest rate rises this year. The consumer prices index moved up from 0.1 per cent in March, as energy prices increased considerably during the [...]
We’ve hit peak stuff: Why we now spend on “doing” rather than “things” May 17, 2016 Earlier this year Ikea’s head of sustainability suggested the West was approaching “peak stuff” – the idea that consumer appetite to own ever more goods was probably waning. Indeed it seems that we’re seeing a fundamental shift in consumer behaviour from buying products to spending money on experiences. We’ve been keeping an eye on this trend at Visa [...]
Inflation rate falls to 0.3 per cent in April due to cheaper clothes and air fares May 17, 2016 Inflation was running at 0.3 per cent in April, figures out this morning from the Office for National Statistics (ONS) have shown, denting the trend of slow-and-steady price rises since the start of the year. The headline consumer prices index (CPI) rate fell back from 0.5 per cent in March and is now in line with figures [...]
Germany records strongest GDP growth for two years, but remains in deflation May 13, 2016 Germany confirmed its status as the powerhouse of Europe in the first quarter, as its economy grew by a mighty 0.7 per cent in the first three months of the year. The German statistics agency this morning confirmed that stronger domestic demand, buoyed by higher levels of employment, helped Europe's largest economy to more than double its rate [...]
Niesr wades into Brexit debate with the latest assessment of how the UK economy would fare after Brexit May 10, 2016 The UK economy could be up to eight per cent smaller if it votes to leave the European Union in the upcoming referendum, according to the National Institute for Economic and Social Research (Niesr). Brexit "would represent a significant shock to the UK economy," and would leave the economy between 1.5 per cent and 7.8 per [...]
All that food Instagraming means millennials face higher inflation than anyone else May 9, 2016 It looks like their obsession with Instagram-friendly "experiences" is coming back to bite Millennials – after new research suggested they're facing the highest level of inflation of any generation around today. The research, by Fidelity International, suggested Millennials (which the research defines as those under 30) were faced with the price rises of 0.9 per cent in the year to March, thanks to [...]
Even the national living wage can’t stop shops from cutting prices May 4, 2016 Prices on the high-street fell in April, despite the introduction of the living wage, according to the latest shop price index from the British Retail Consortium (BRC), published today. Retailers cut prices by 1.7 per cent over the past year — the same rate of discounting as a month earlier and the 36th consecutive period of falling [...]
Nigel Farage: The Remain campaign is trying to scare you April 29, 2016 Nigel Farage has warned that the Remain campaign is increasingly using scare tactics to persuade voters to stay in the EU – as he suggested food and cars will be cheaper in the case of Brexit In a wide-ranging speech, Farage accused the Remain campaign of a "remorseless torrent of propaganda scaring us", adding that "all sorts of [...]
EU referendum: Economists launch new pro-Brexit report attacking EU as an “evil” customs union April 28, 2016 A group of economists has struck back against what they see as the one-sided tone of the EU referendum debate today, with a new report that outlines the potential benefits of leaving the EU. "Economists for Brexit", a campaign group launched this morning, said Brexit would lead to lower prices, more jobs and faster economic growth, dismissing the claims put [...]
Nearly 60,000 companies hit by National Living Wage already in “significant financial distress”, insolvency firm warns April 20, 2016 The National Living Wage (NLW) risks tipping thousands of vulnerable companies over the edge as they struggle to absorb higher staff costs, one of the UK’s leading insolvency firms has warned. More than 1.8m workers were given a pay rise on 1 April after a new minimum wage came into force, requiring employers to pay at least £7.20 per [...]