Economy
-
Sep- 2022 -22 September
BoE raises interest rates to 2.25%
The Bank of England has today (22 September) announced that interest rates will be raised by 0.5%, with rates rising from 1.75% to 2.25%. The latest announcement from the Monetary Policy Committee (MPC) comes as inflation remains at record highs for the UK, and marks the seventh consecutive rise in…
Read More » -
16 September
Hallmarking rises 13.1% in August
The total number of hallmarked pieces during August rose by 13.1% to 886,746, up from 784, 078 from last year, according to the latest figures from the four UK Assay offices. However, the number of gold pieces fell slightly, down -0.3% from 365,664 to 364,652. Silver saw the only jump,…
Read More » -
14 September
Inflation falls in August but remains near 40-year high
UK inflation eased slightly in August to 9.9%, down from 10.1% in July, but remains near a 40-year high as prices continue to rise, according to the latest figures from the Office for National Statistics (ONS). On a monthly basis, CPI rose by 0.5% in August 2022, compared with a…
Read More » -
12 September
Economic recovery slows in July
The UK economy’s growth slowed in July to 0.2% according to the latest figures from the Office for National Statistics (ONS). The result is below previous forecasts of 0.4% growth for the month as worker shortages and soaring costs weighed on activity. It found that services grew by 0.4% in…
Read More » -
9 September
Platinum jewellery sales continue global recovery
Platinum jewellery sales have continued to recover in the key markets of India, Japan and the United States in the second quarter of 2022, despite the lingering effects of the pandemic and rising inflation, according to the latest platinum jewellery business review Q2 2022. In part, it reports that the…
Read More » -
8 September
Energy bills to be capped at £2,500 a year from October
Prime minister Liz Truss has announced today that energy bills for typical households will be capped at £2,500 annually for their gas and electricity bills from the start of this coming October. The news comes as her first major policy announcement, and according to Sky News, the new price guarantee…
Read More » -
5 September
UK retail sector M&A deals increase 21% on last year
The number of M&A deals targeting UK retailers has increased by 21% in the last year, up from 28 transactions to 34 in the last 12 months, as deals in the sector “buck the overall slowdown in M&A”, according to RPC, the international law firm. Overall, UK M&A activity has…
Read More » -
1 September
Footfall recovers in August despite cost of living crisis
Footfall has strengthened across UK retail destinations in August 2022 to -13.2% below 2019 compared with -14.2% in July 2022, after it had weakened from -12.3% in June 2022, according to Springboard’s Footfall Monitor. The “unexpected turnaround” covering the four weeks 31 July to 27 August saw footfall strengthened in…
Read More » -
Aug- 2022 -26 August
Energy price cap to rise by 80% to £3,549 from October
Ofgem has confirmed that the energy price cap will increase by 80% to a record £3,549 a year for dual fuel for an average household from 1 October 2022. The rise will affect those on standard variable tariffs, with the record annual bill only being based on typical usage. At…
Read More » -
25 August
Brits to have more considered Christmas as inflation bites, says eBay
The impact of inflation means consumers will be prioritising value for money and thoughtful gifting this festive season, according to the eBay Ads UK’s latest Christmas Spend Trends research report. The research, which surveyed 2,010 UK consumers who celebrate Christmas, found that a third (32%) of consumers are planning to…
Read More »
