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Warmer weather lifts retail sales

UK retailers had a better month in May, thanks to an improvement in the weather following heavy rain in April. Data released by the Office for National Statistics (ONS) on Friday showed that … Continue reading “Warmer weather lifts retail sales”

Interest rates held at 5.25%

The Bank of England has confirmed that interest rates will remain at 5.25%, highest level for 16 years. At its latest meeting, the Bank’s nine-member Monetary Policy Committee (MPC) voted by a majority … Continue reading “Interest rates held at 5.25%”

UK inflation falls to 2% target

Consumer prices rose by 2.0% in the 12 months to May, down from 2.3% in April, according to the latest data. It means that inflation has reached the Bank of England’s target for … Continue reading “UK inflation falls to 2% target”

UK business investment ‘lowest in G7’

Business investment in the UK is lower than in any other G7 country, for the third year in a row. This includes investment in things like factories, equipment and innovation. Unless investment levels … Continue reading “UK business investment ‘lowest in G7’”

UK diesel prices “most expensive in Europe”

Petrol and diesel prices at forecourts across Britain are “far higher than they should be”, according to the RAC. Wholesale costs have been falling since the end of April, but the distraction of … Continue reading “UK diesel prices “most expensive in Europe””

House purchases delayed ahead of expected rate cut

Buyers are waiting for interest rates to come down before purchasing a new home, research suggests. A regular survey of chartered surveyors found that demand for homes had weakened in May. The Bank … Continue reading “House purchases delayed ahead of expected rate cut”

Airports criticise U-turn on liquids rules

UK airports have criticised the Department for Transport’s sudden re-introduction of 100ml limits on liquids in hand luggage. Some regional airports across the country had scrapped the tight restrictions after installing new high-tech … Continue reading “Airports criticise U-turn on liquids rules”

Zero growth for UK economy in April

The UK economy showed no growth in April as wet weather hit retail sales and construction. Rainfall during the month was recorded at 155% of the long-term average across the country. Monthly data … Continue reading “Zero growth for UK economy in April”

High pay growth could delay interest rate cut

Wage growth for UK employees remains strong, potentially lowering the prospect of a pre-election cut in interest rates. In the year to February to April 2024, pay grew by an average of 6.0% … Continue reading “High pay growth could delay interest rate cut”

Greggs expands manufacturing capacity with new site

High street bakery chain Greggs has signed a lease on a new state-of-the-art frozen production and logistics site in Derby. It comes as the company continues to expand its presence across the UK … Continue reading “Greggs expands manufacturing capacity with new site”

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