Economy
The latest news, updates and analysis on the economy and how it is affecting the UK retail industry. Sign up to the Daily Briefing and let Retail Sector’s business journalists keep you in the picture.
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Apr- 2023 -21 April
Poor weather sees retail sales fall 0.9% in March
Retail sales in the UK fell 0.9% in March according to latest figures from the Office for National Statistics (ONS).…
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19 April
Inflation remains above 10% in March
Despite easing slightly, inflation remained above 10% in March thanks to food and drink costs reaching a 45-year high, according…
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13 April
UK economy flatlines in Feb
Real gross domestic product (GDP) is estimated to have shown no growth in February 2023, where falls in services and…
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Mar- 2023 -31 March
UK economy avoids recession amid 0.1% growth
The UK economy narrowly avoided a recession during the fourth quarter (Oct-Dec) as UK GDP increased 0.1%, revised up from…
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28 March
Shop price inflation grows to 8.9% in March
The British Retail Consortium found that for the first seven days of March annual shop price inflation increased to 8.9%…
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24 March
Consumer confidence rebounds despite looming financial concerns
The UK consumer confidence index has increased ahead of expectations by seven points in February, according to consumer goods data…
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24 March
Retail sales rise 1.2% in February
The ONS has reported today (24 March) that retail sales for February have increased by an estimated 1.2%, following a…
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23 March
BoE raises interest rates to 4.25%
The Bank of England (BoE) has announced that interest rates will be raised by 0.25% to 4.25%, the highest rate…
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22 March
Inflation unexpectedly jumps to 10.4% amid rising food prices
The UK inflation rate unexpectedly increased to 10.4% in February driven by increased drink and food prices which reached their…
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16 March
Retailers welcome budget but ‘missed opportunity’ for rates reform
Retail has welcomed the support for households in the face of the cost of living crisis in the chancellor’s Spring…
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