Sanctions push Russian prices up 7.5 per cent September 25, 2014 Russia’s rate of inflation may exceed 7.5 per cent this year, as foreign and domestic sanctions act to restrict the supply of goods. Russia’s target has been around four per cent since the end of hyperinflation in the early 1990s, but it is highly likely to miss the target this year, according to the head [...]
Family incomes start to recover after long squeeze from prices September 24, 2014 Shoppers’ spending power is starting to recover from the long squeeze of low pay rises and high inflation, according to data from Asda. The average household had discretionary income of £172 per week in August, up £5 on the year. The 11th consecutive rise brings spending power close to its all-time high of £174, which [...]
Falling inflation to give Bank greater leeway September 16, 2014 INFLATION slid further in August, official data showed yesterday, easing some of the pressure on the Bank of England to raise interest rates. The consumer price index slowed to an annual growth rate of 1.5 per cent in the year to August from 1.6 per cent in July, according to figures from the Office for [...]
Britain’s biggest companies call on Westminster for fundamental business rates reform September 16, 2014 Some of Britain's biggest businesses including Marks & Spencer, Sainsbury's, Tesco, General Motors and Tata Steel have called on the government to rip up the current business rate regime claiming the current system is “a critical problem for all of British business”. The controversial tax delivers around £25bn to the Treasury every year, but [...]
Inflation falls again, to 1.5 per cent September 16, 2014 The Consumer Prices Index fell to 1.5 per cent in the year to August, down from 1.6 per cent the month before, as low wages and pressures on recovery in European economies continued to take their toll. The Office for National Statistics said the measure was pushed down by a drop in the price of [...]
Retailers cheer as sales recover September 8, 2014 RETAIL sales picked up again in August, with the high street enjoying its strongest growth since January this year. Like-for-like sales rose by 1.3 per cent in August compared with same time last year and a 0.3 per cent dip in July, according to the latest data from KPMG and the British Retail Consortium (BRC). [...]
Food costs help to power 16th month of retail price deflation September 2, 2014 Shop prices fell again during the year to August with the lowest food inflation on record, according to an industry body this morning. Figures released by the British Retail Consortium (BRC) and Nielsen today show that shop prices overall fell by 1.6 per cent – the 16th month of deflation on record. Although the pace [...]
Ebola food shortage: Sufferer escapes Liberian hospital to steal bread from crowded market September 2, 2014 Concerns over the shortage of food available for Ebola victims in West Africa have been put in the limelight by a YouTube video uploaded today. It shows an Ebola patient walking through a crowded market after escaping from a hospital in Liberia. He picks up a piece of bread from one of the stalls [...]
Eurozone inflation falls to five-year low as unemployment stays flat at 11.5 per cent August 29, 2014 Consumer price inflation in the eurozone dropped to 0.3 per cent in August, its lowest level since October 2009, as unemployment remained stubbornly flat at 11.5 per cent, official figures published this morning showed. Although the figures were underwhelming, they met analyst expectations. The drop in inflation was largely driven by energy prices, which fell [...]
Lidl by Lidl, the discounters are still on the rise – Bottom Line August 27, 2014 Fresh data, but no fresh hope for the mid-market grocers. Tesco dropped its market share to 28.8 per cent in the 12 weeks to 17 August, down from 30.2 per cent last year. Sainsbury’s also edged down. By contrast, premium player Waitrose grew its market share to 4.9 per cent – and its take at [...]