Economy
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Dec- 2024 -19 December
BoE holds interest rates at 4.75%
The Bank of England (BoE) has voted to hold interest rates at 4.75%, following a recent hike in both inflation and wage growth. At its meeting this week, the bank’s monetary policy committee voted by a majority of 6–3 to maintain the current rate. Three members voted to reduce interest…
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16 December
Footfall drops 3.1% in last fortnight
Footfall over the last two weeks ended 8 December has averaged -3.1% below the same weeks last year according to Rendle Intelligence and Insights. Moreover, footfall into stores last week dropped further behind 2023 than the week before (-3.3% last week vs -2.8%). Shopping centres fared worse than high streets…
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Nov- 2024 -1 November
Footfall declines 1.1% in October
Footfall in the UK fell 1.1% in October compared with the previous year, according to data from the BRC. Alongside this, footfall fell compared with a 3.3% increase in September. High Street footfall decreased by 3.6% in October, down from a 0.9% increase in September. Also, shopping centre footfall fell…
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Aug- 2024 -29 August
Retail footfall shows resilience despite riots
Footfall in the UK rose marginally by 0.9% from July to August in all UK retail destinations according to data from MRI. The performance was led by a 2.1% rise in shopping centre footfall followed by 2% increase at retail parks. Despite this, activity in high streets declined by 0.1%,…
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14 August
Inflation rises to 2.2% due to energy prices
Inflation increased for the first time this year in July, as energy prices fell less than they did a year ago, according to the latest figures from the ONS. Prices rose 2.2% in July, up from 2% the previous month, but came below analysts previous estimates of 2.3%. Although monthly…
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Jul- 2024 -9 July
Cold weather chills consumer spending in June
UK Total retail sales decreased by 0.2% year on year in June, against an increase of 4.9% in June 2023, as cold weather negatively affected spending particularly on “weather sensitive categories”. The latest figures from BRC’s and KPMG’s retail sales monitor revealed that food sales increased 1.1% year-on-year over the…
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Jun- 2024 -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 voted by a majority of 7–2 to maintain the rate, despite inflation hitting its target and falling to 2% in May. UK inflation hit its target for the first time…
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Apr- 2024 -30 April
Shop Price annual inflation falls to 0.8% in April
Shop Price annual inflation eased to 0.8% in April, down from 1.3% in March, as it starts to show “signs of normalising”, according to the latest figures from the BRC-Nielsen Index. Non-Food entered deflation at -0.6% in April, down from 0.2% in the preceding month. This is below the three-month…
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Mar- 2024 -26 March
Bumper Easter week to boost footfall by +6.6%
Footfall is forecast to rise by +6.6% across all UK retail destinations over the week of Easter, according to MRI Software. MRI said it anticipates that shoppers will “flock” to retail parks this week to stock up on Easter essentials ahead of the weekend with the latter part of the…
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Feb- 2024 -7 February
Retail sales slow as high cost of living enters third year
UK total retail sales increased by 1.2% year on year for the four weeks ended 27 January 2023, compared with a growth of 4.2% in January 2023, according to data from the British Retail Consortium (BRC). This was above the three-month average growth of 1.9% and below the 12-month average…
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