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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Feb- 2023 -7 February
Jan retail sales rise 4.2% but fall YOY
Total retail sales in the UK rose 4.2% in January, a marked drop off when compared with the same period…
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6 February
Trade bodies urge Govt to reform ‘broken’ apprenticeship levy
Four trade bodies within UK retail and hospitality, including the BRC, have called on the government to reform the “broken”…
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2 February
BoE raises interest rates to 4%
The Bank of England (BoE) has announced that interest rates will be raised by 0.5%, bringing the base rate of…
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1 February
Shop price inflation hits record levels
Shop price annual inflation increased to a record high of 8.0% in January up from 7.3% in December, according to…
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Jan- 2023 -31 January
Nearly half of FTSE retailers issued profit warnings in 2022
Profit warnings from UK-listed retailers increased by 48% in 2022 as rising costs prompted record levels of warnings, according to…
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23 January
Consumer confidence improves for first time in 15 months
UK consumer confidence in the final quarter of 2022 improved by half (+0.6) a percentage point, according to the latest…
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20 January
December retail sales fall 1% despite Christmas boost
Retail sales volumes fell by 1% in December 2022 after a 0.5% fall in November 2022, according to data from…
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18 January
UK inflation dips for second consecutive month
UK inflation fell slightly for the second consecutive month from 10.7% to 10.5% in December as easing fuel costs were…
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13 January
UK economy beats expectations as it grows 0.1% in November
The UK economy unexpectedly grew by 0.1% in November as the World Cup helped boost restaurant and pub sales, according…
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10 January
Retail sales rise 6.9% over Christmas
The BRC has reported that sales on a total basis increased by 6.9% in December 2022, compared with the prior…
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