Royal Wedding and sunny weather boost retail sales May 19, 2011 Retail sales climbed more than expected in April, boosted by the extra holiday for the Royal Wedding and record temperatures, official data showed. The Office for National Statistics said sales volumes including automotive fuel rose 1.1 percent last month, well above analysts forecasts for an increase of 0.8 per cent, and the biggest rise for [...]
King’s letter is backed by Osborne May 17, 2011 BANK of England governor Mervyn King sent his sixth letter in 15 months to chancellor George Osborne this week, as inflation shows few signs of returning to its two per cent target. King is obliged to write a letter of explanation every three months as to why inflation remains more than one per cent above [...]
Eurozone hit by sharp leap in core prices May 16, 2011 CORE inflation in the Eurozone shot up in April, it was revealed yesterday, while a senior central bank official signalled more interest rate hikes to come. Core consumer prices (excluding energy, food, tobacco or alcohol) jumped to 1.6 per cent in the single currency area last month, from 1.3 per cent in March and one [...]
UK retailers are serving up higher high street prices May 16, 2011 ACCORDING to a report issued by economic forecasting group Ernst and Young ITEM Club yesterday, UK retailers are in for a difficult time in the years ahead. The report points to rising inflation and energy bills – without corresponding wage increases – leaving households with less disposable income. “World prices for food, fuel and fibres [...]
Eurozone inflation rises May 16, 2011 More expensive energy drove eurozone headline inflation higher in April and core inflation jumped as well, data showed, confirming an earlier estimate and the ECB’s concern about rising inflationary risks. The European Union’s statistics office Eurostat said consumer prices in the 17 countries using the euro rose 0.6 per cent month-on-month, confirming its earlier year-on-year [...]
Inflation needs to fall before rates can rise May 15, 2011 SO another week but the focus is the same. Where’s inflation going and what’s the impact on the consumer and growth? Last week the Bank of England said inflation could hit five per cent and tomorrow April CPI could rebound to an annual rate of 4.4 per cent. For the fourth quarter in a row [...]
Inflation is expected to rise again May 15, 2011 OFFICIAL figures out tomorrow will show whether inflation sprang forward in April, with the Bank of England fearing it could hit five per cent this year. The Bank said last week consumer price inflation could remain above its two per cent target until 2013. In March, inflation surprisingly eased to four per cent annualised – [...]
US inflation on the rise May 13, 2011 US inflation hit the highest level in two and a half years as food and energy prices moved higher, but there was little sign of a broader pick-up in inflation that would trouble the Federal Reserve. The Labor Department said on Friday its Consumer Price Index increased 0.4 percent in April from March after rising [...]
Don’t worry, the party in commodities isn’t over yet May 11, 2011 COMMODITIES took a big knock in the recent correction, but the fundamentals still point towards continued rises over the medium term. Assuming you aren’t planning to fill your home with sheep, soybeans and platinum, with certain provisos, commodity funds can offer you a route in. THE PARTY ISN’T OVER Investors who joined the commodity party [...]
N Brown dividend up as profit jumps May 10, 2011 HOME shopping business N Brown yesterday posted another year of growth, despite difficult trading conditions. The retailer, which has brands including High and Mighty, Figleaves, Jacamo and Simply Be, reported revenues of £718m for the year to 28 February, up 4.2 per cent. Pre-tax profits were boosted by 5.5 per cent to £98.2m. The company [...]