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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Jan- 2023 -4 January
Food inflation hits record high of 13.3%
ood inflation accelerated to the highest inflation rate in the category on record, after jumping to 13.3% in December, up…
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Dec- 2022 -16 December
Retail sales dip 0.4% in November
Black Friday and Christmas shopping has failed to lure people back to the high streets as the Office for National…
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16 December
Consumer confidence remains at ‘historic lows’ in December
GfK’s Consumer Confidence Index increased by only two points in December to -42, with confidence still sitting at “historic lows”. …
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15 December
Bank of England raises interest rates by 0.5% to 3.5%
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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14 December
Inflation falls to 10.7%
UK Inflation fell to 10.7% in November, down from 11.1% in October, but still remains close to a 40-year high…
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12 December
UK economy returns to growth in October
The UK economy returned to growth in October following the period of national mourning after the death of the Queen,…
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Nov- 2022 -28 November
Retail sales plummet in November, CBI finds
Retailers saw their sales volumes plummet in the year to November, according to the CBI’s latest quarterly distributive trades survey,…
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18 November
UK consumer confidence rises to -44 in November
The consumer confidence index increased three points in November up to -44, but it still remains close to a historic…
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18 November
October sales rise 0.6% but remain behind pre-Covid levels
The Office for National Statistics (ONS) reported that retail sales volumes rose by an estimated 0.6% in October, following a…
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18 November
Retail reacts: Gov has taken ‘first step to longer term reform’
The retail industry has welcomed chancellor Jeremy Hunt’s Autumn budget announcement, with the BRC saying it shows “the government has…
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