Britons spend less on leisure as rents climb December 2, 2014 BRITISH households are spending less on eating out, hotels, alcohol and smoking, according to the annual official survey of family budgets released yesterday by the Office for National Statistics (ONS). The survey also reveals how rent, gas and electricity are taking up a larger proportion of spending. Total average spending by families in 2013 was [...]
Food prices fall for first time in almost 10 years December 2, 2014 Britons had reason to cheer last month as food prices fell, while real wages rose for the first time in five years, according to an index of retailers out today. The British Retail Consortium (BRC) and Nielsen said food prices fell by 0.2 per cent year-on-year in November – the first decline since the firms’ [...]
Spending is on the rise as housing costs more than ever December 2, 2014 Household spending is at its highest since 2010, according to the latest official figures, with more money being spent on housing than ever before. The average UK household spending was £517.30 a week in 2013, according to the Office for National Statistics (ONS), up from an all time low of £501 the previous year and [...]
UK inflation: Consumer price index rises to 1.3 pc November 18, 2014 The rate of UK inflation rose to 1.3 per cent in the year to October 2014, recovering slightly from a suprise fall to 1.2 per cent the previous month. Smaller declines in transport costs – such as motor fuels and and air fares – drove the increase. Oil prices have plummeted recently, but they have [...]
As the Bank of England predicts low inflation for longer, is real wage growth here to stay? November 12, 2014 Rob Wood is chief UK economist at Berenberg Bank, says Yes. Real wage growth is here to stay, but it’s important to keep some perspective. We are finally seeing wages rise above inflation, partly because petrol and food price falls have dragged the latter down. Money wage growth remains weak, if better than a few [...]
Aviva Investors’ Euan Munro on why markets will see more Wobbly Wednesdays November 11, 2014 It’s lunchtime at Aviva Investors’ offices at No.1 Poultry, but the three platters of fish, meat and vegetable sandwiches supplied by catering lie untouched on the table. Euan Munro, chief executive of the fund management house, is sitting drinking full fat Coca-Cola from a glass, while the pungent aroma of the Coq d’Argent restaurant upstairs [...]
Bank’s inflation report to give clues on rates – London Week November 9, 2014 MARKET attention this week will focus on the Bank of England’s Inflation Report, due for release on Wednesday, and the latest set of macroeconomic projections contained within it. The figures will help investors and analysts to determine just how far market expectations for the first hike in the interest rate have been pushed back. The [...]
Fresh food price drop set to help Christmas budgets go further November 4, 2014 Prices in shops continued to drop in October, with food inflation reaching a record low. Figures released today for the shop price index compiled by the British Retail Consortium (BRC) and market analysts Nielsen show that shop prices fell by 1.9 per cent year-on-year in October. Food inflation fell to 0.1 per cent, the lowest [...]
Eurozone inflation hits expectations – but it’s still in the ECB’s “danger zone” October 31, 2014 Inflation in the Eurozone ticked up a tenth of a percentage point in October, which will do little to allay fears about the state of the economy in the single currency zone. According to the latest flash estimate (which will be confirmed next month) the rate was 0.4 per cent in October, compared with 0.3 [...]
Harvey Nash to wine and dine energy chiefs October 27, 2014 THE ENERGY industry’s top City slickers (pun intended) are set to meet for an evening of food and fine conversation at the Harvey Nash annual Oil & Gas dinner in The Dorchester’s Orchid Room tonight. Centrica’s outgoing boss Sam Laidlaw is the evening’s guest speaker and no doubt he’ll be looking forward to meeting old [...]