Economy NEWS

July heatwave boosted retail sales

UK retail sales rose in July after three consecutive months of decline. The growth was driven by inflation, with shop prices significantly higher than they were a year ago. Figures from the British … Continue reading “July heatwave boosted retail sales”


UK interest rates rise to 1.75%

The Bank of England has raised interest rates from 1.25% to 1.75% — the biggest single rise since 1995 — and warned that the UK will fall into recession this year. Interest rates … Continue reading “UK interest rates rise to 1.75%”


Shop price inflation reaches highest rate since 2005

The prices of everyday goods in UK shops are continuing to rise, according to the latest data from the British Retail Consortium (BRC). Shop price annual inflation accelerated to 4.4% in July — … Continue reading “Shop price inflation reaches highest rate since 2005”


UK retail sales down 0.1% in June

Retail sales volumes declined by 0.1% in June 2022 as rising prices forced families to cut back on purchases. Last month’s decrease was smaller than the 0.8% drop recorded in May 2022 but … Continue reading “UK retail sales down 0.1% in June”


UK inflation climbs to 9.4%

Consumer price inflation in the UK reached 9.4% in June, according to the latest data. This is up from 9.1% in May and represents a new 40-year high, the Office for National Statistics … Continue reading “UK inflation climbs to 9.4%”


Record fall in UK pay as inflation hits 40-year high

Pay rises are still failing to keep up with inflation, according to the latest data from the Office for National Statistics (ONS). New figures for March to May 2022 show that average pay … Continue reading “Record fall in UK pay as inflation hits 40-year high”


Should there be a ‘too hot to work’ limit?

With extremely high temperatures forecast across the UK this week, a union has called for a legal limit on how hot it can be in a workplace. The GMB said that employees should … Continue reading “Should there be a ‘too hot to work’ limit?”


UK economy rebounded in May

The UK economy returned to growth in May after shrinking in April and March. Figures from the Office for National Statistics (ONS) show that GDP increased by 0.5% in May, with growth across … Continue reading “UK economy rebounded in May”


UK retail sales dropping at fastest rate since lockdown

Retail sales have fallen for the third consective month as inflation hits household budgets. Shoppers are cutting back on purchases of white goods such as fridges and dishwashers, as well as opting for … Continue reading “UK retail sales dropping at fastest rate since lockdown”


Third of UK firms see automation as a top priority

One in three businesses in the UK are planning to invest in automation due to ongoing employee shortages, according to new research. A survey of 670 UK firms by banking group HSBC found … Continue reading “Third of UK firms see automation as a top priority”


Navigate Articles by Page ....

1 2 3 44