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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Oct- 2022 -11 October
Retail sales rise 2.2% in September
The British Retail Consortium (BRC) Sales Monitor reports that, on a total basis, sales increased by 2.2% in September, against…
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Sep- 2022 -29 September
Food inflation rises to a ‘record’ 10.6% in September
Food inflation has grown to 10.6% in September 2022, up from 9.3% in August, which is above the three-month average…
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27 September
Boohoo and Wilko cancel orders with suppliers amid slow sales
Boohoo has been cancelling and deferring orders from suppliers and Wilko has deferred payments to suppliers to protect its squeezed…
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26 September
Pound plunges to historic low
The pound has plummeted to an all-time low against the dollar following the sweeping tax cuts announced by chancellor Kwasi…
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23 September
Chancellor announces sweeping tax cuts in first mini-budget
Chancellor Kwasi Kwarteng has today (23 September) announced a ream of tax cuts alongside a £60bn energy support package as…
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22 September
BoE raises interest rates to 2.25%
The Bank of England has today (22 September) announced that interest rates will be raised by 0.5%, with rates rising…
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16 September
Retail sales fall 1.6% in August as cost of living begins to bite
Retail sales fell by 1.6% in August this year, due to rising prices and cost of living which are affecting…
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15 September
Wickes sees H1 profits fall 6.2% to £33.5m
Wickes has reported that its profits before tax declined by 6.2% for the first half of 2022, to £33.5m compared…
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14 September
Inflation falls in August but remains near 40-year high
UK inflation eased slightly in August to 9.9%, down from 10.1% in July, but remains near a 40-year high as…
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13 September
Unemployment falls to lowest level since 1974
Unemployment has fallen to its lowest level since 1974, currently sitting at 3.6% for the three months to July, according…
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