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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Sep- 2022 -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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12 September
Economic recovery slows in July
The UK economy’s growth slowed in July to 0.2% according to the latest figures from the Office for National Statistics…
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12 September
BoE delays interest rates decision
The Bank of England (BoE) has delayed its interest rates decision for one week, following the death of Queen Elizabeth…
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9 September
UK workers face £2,000 hit to real wages
UK workers are facing a £2,000 hit to their real wages by the end of 2022 as the UK economy…
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8 September
Energy bills to be capped at £2,500 a year from October
Prime minister Liz Truss has announced today that energy bills for typical households will be capped at £2,500 annually for…
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