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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Jul- 2023 -13 July
UK economy shrinks in May
The UK economy contracted by 0.1% in May as output was negatively affected by the King’s coronation, according to the…
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12 July
Cost of living crisis to wipe £65bn from household finances
Inflation and the cost of living crisis are set to wipe £65bn from household finances across the UK, with real…
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11 July
UK retail sales rise 5% in June
Total retail sales in the UK were up 4.9% in June, compared with a 1% decline in June 2022, according…
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Jun- 2023 -27 June
Shop price inflation falls to 8.4% in June
Shop price inflation in the UK has fallen to 8.4% in June, down from 9% in May, according to new…
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23 June
Consumer confidence improves by a further three points in June
GfK’s long-running Consumer Confidence Index increased three points to -24 in June. after three measures improved, one was down and…
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22 June
BoE raises interest rate to 15-year high
The Bank of England (BoE) has raised interest rates for the 13th consecutive time to 5%, the highest level in…
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21 June
Inflation fails to fall in May
Inflation in the UK remained unchanged at 8.7% in the year to May, dashing hopes that prices would continue to…
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7 June
UK consumers feeling cost-of-living more than EU counterparts, EY finds
Cost-of-living pressures have affected UK consumers more than their European counterparts, according to the latest EY UK Future Consumer Index.…
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May- 2023 -24 May
Inflation falls to 8.7% in April
Inflation has fallen to 8.7% in April, marking the first time it has been in single digits since last summer,…
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16 May
Unemployment rises to 3.9%
The unemployment rate for January to March 2023 increased by 0.1 percentage points during the first quarter to 3.9% amid…
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