Economy NEWS

Shop price rises back to ‘normal levels’

Inflation in UK shops is now at “normal levels” and prices for some items have fallen, according to the latest retail industry data. The British Retail Consortium (BRC) and research firm NielsenIQ found … Continue reading “Shop price rises back to ‘normal levels’”


Inflation rate falls to 2.3%

UK inflation is continuing to come down, dropping to the lowest level in almost three years. Prices rose at 2.3% in the 12 months to April, down from 3.2% in March, according to … Continue reading “Inflation rate falls to 2.3%”


Taylor Swift tour brings £1bn boost to UK spending

UK spending associated with Taylor Swift’s Eras Tour will reach almost £1bn, according to a new analysis by Barclays. Each fan will spend £848 on average to see the pop star at one … Continue reading “Taylor Swift tour brings £1bn boost to UK spending”


Pace of UK wage growth still high

Wage growth for UK employees remains high in the latest data, despite a rise in unemployment. Between January and March 2024, regular pay (excluding bonuses) grew by 6% compared with the same period … Continue reading “Pace of UK wage growth still high”


UK economy returns to growth

The UK economy has emerged from recession, according to the latest data. Gross domestic product (GDP) grew by 0.6% between January and March, the Office for National Statistics (ONS) said. This is the … Continue reading “UK economy returns to growth”


UK interest rates held at 5.25%

The Bank of England has kept interest rates on hold for the sixth time in a row, but signalled that cuts are on the way. The nine-member Monetary Policy Committee voted 7-2 to … Continue reading “UK interest rates held at 5.25%”


UK set for slow economic growth, says OECD

The UK economy will see “sluggish” growth over the next two years, according to the Organisation for Economic Co-operation and Development (OECD). High inflation and a succession of interest rate rises to 5.25% … Continue reading “UK set for slow economic growth, says OECD”


House prices dip as average mortgage rates rise

UK house prices fell slightly in April as borrowing costs weighed heavily on potential buyers. The latest monthly report from Nationwide showed that prices were down 0.4% compared with March, taking the annual … Continue reading “House prices dip as average mortgage rates rise”


Wet weather may push up bread and biscuit prices

Months of wet weather in the UK could affect this year’s wheat harvest and lead to higher prices for bread, beer and biscuits, acording to a new analysis. The Energy and Climate Intelligence … Continue reading “Wet weather may push up bread and biscuit prices”


Supermarket deals drive food inflation down

Grocery price inflation in the UK is continuing to come down, partly due to increased spending on promotional items, according to the latest data. Industry analyst Kantar found that grocery price inflation fell … Continue reading “Supermarket deals drive food inflation down”


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