Inflation
Inflation has significant implications for the UK jewellery trade, affecting everything from raw material costs to consumer spending habits. For jewellers, suppliers, and manufacturers, understanding how inflation influences pricing, margins, and operational decisions is critical to staying resilient in a shifting economic climate. Jewellery Focus provides expert coverage on inflation trends, market analysis, and insights into strategies trade professionals are adopting to mitigate its impact across the supply chain and retail sector.
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Jan- 2025 -24 JanuaryRetailers
Pragnell profits and revenues surge in FY24
Stratford-Upon-Avon based luxury jeweller Pragnell has seen its profit-before-tax increase from ยฃ8.75m to ยฃ9.27m and its revenues rise 14% to ยฃ94.39m for the year ended 31 March 2024. Its operating profit also was also up from ยฃ8.90m to ยฃ8.96m and gross profit margin of the company and group during 2024…
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7 JanuaryEconomy
BRC warns of 2025 falling sales volume despite December sales growth
The British Retail Consortium (BRC) has warned of possible falling sales volume in 2025 despite the modest increase in total retail sales experienced in December 2024. UK total retail sales in December 2024 increased by 3.2% year on year, against a growth of 1.9% in December 2023, according to new…
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Dec- 2024 -19 DecemberEconomy
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 bankโs monetary policy committee voted by a majority of 6โ3 to maintain the current rate. Three members voted to reduce interest…
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Nov- 2024 -7 NovemberNews
Bank of England cuts interest rates to 4.75%
The Bank of England has cut interest rates for the second time this year, with rates now cut to 4.75%. The bank voted by a majority of 8โ1 to reduce Bank Rate by 0.25 percentage points to 4.75%. One member preferred to maintain the previous rate of 5%. It had…
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Oct- 2024 -30 OctoberNews
Budget: Increases to employersโ NI and minimum wage
The Chancellor Rachel Reeves has increased Employersโ National Insurance contributions in a bid to help raise as much as ยฃ40bn in taxes, pledging to also boost long-term growth and โmark an end to short term-ismโ as part of Labourโs first budget since it came into power. Employersโ National Insurance contributions…
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3 OctoberDesigners
Bulgari UK falls to ยฃ3.2m loss
Bulgari UK has revealed that it posted a loss of ยฃ3.2m for the year ended 31 December 2023 a 193% drop from the ยฃ3.5m profit it posted in the previous year. Alongside this, the luxury goods company earned ยฃ54.6m in UK sales last year, compared with ยฃ60.3m in 2022, a…
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Sep- 2024 -19 SeptemberNews
BoE holds interest rates at 5%
The Bank of England (BoE) has decided to hold interest rates at 5% this month, having lowered them for the first time in four years in August. The bank voted by a majority of 8-1 to keep the rate the same in a bid to help โsustain growth and employmentโ.…
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Aug- 2024 -16 AugustNews
UK gold investors โbuy the dipโ amid global marketsโ latest storm
Bullion trading via The Royal Mintโs website trebled (336%) after global financial markets plummeted on Monday (5 August 2024), the Royal Mint revealed.ย The number of investors transacting increased by 53%, compared with this yearโs daily average, with precious metals buying outpacing selling by a ratio of 5:1 Additionally, 1oz…
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14 AugustEconomy
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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1 AugustNews
BoE cuts interest rates for first time in 4 years
The Bank of England (BoE) has cut interest rates for the first time in four years, with the rate falling to 5%. The bank voted by a majority of 5โ4 to reduce the rate by 0.25 percentage points to 5%, marking the first fall in inflation since March 2020, where…
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