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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Aug- 2024 -6 August
Retail sales jump 0.5% in July as clothing performance improves
UK Total retail sales increased by 0.5% year on year in July, against a growth of 1.5% in July 2023,…
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1 August
BoE cuts interest rates for first time in 4 years
The Bank of England (BoE) has cut interest rates for the first time in four years, with the rate falling…
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Jul- 2024 -30 July
Shop price inflation remains unchanged in July
Shop Price annual inflation remained unchanged at 0.2% in July but economic uncertainty could lead to future rises, the British…
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17 July
Inflation holds steady in June despite rise in hotel prices
Inflation remained steady at 2% in June despite a strong rise in hotel prices during the month, according to the…
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11 July
UK economy beats expectations as GDP jumps 0.4%
UK gross domestic product (GDP) beat expectations in May, increasing 0.4%, as a result of better weather, according to data…
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2 July
Shop price inflation eases to 0.2% in June
Shop price annual inflation eased to 0.2% in June, down from 0.6% in May, the lowest rate of price growth…
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Jun- 2024 -21 June
BoE decision a ‘blow for Gen Z spending’, says RSM UK
The economic impact of high interest rates is set to hit Gen Z spending for the next 12 months, “prolonging…
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21 June
UK retail sales jump 2.9% in May
UK retail sales volumes rose by 2.9% in May 2024, following a fall of 1.8% in April 2024, according to…
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20 June
BoE holds interest rates for 7th consecutive month
Interest rates have remained unchanged at 5.25% for the seventh consecutive month, the Bank of England has announced. The bank’s MPC…
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19 June
Inflation hits 2% target for first time in three years
UK inflation has hit its target for the first time in almost three years, as consumer price inflation eased to…
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