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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Jun- 2024 -20 JuneEconomy
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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May- 2024 -22 MayNews
General election called for 4 July
Prime minister Rishi Sunak has confirmed that a general election will take place on Thursday 4 July. The prime minister informed the cabinet of his plans in a meeting held this afternoon (22 May). As a result the parliament will be dissolved next week. Sunak had previously confirmed that an…
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Apr- 2024 -30 AprilEconomy
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 -8 MarchRetailers
Queensmith acquires ingleandrhode.co.uk from administrators
Queensmith has announced the acquisition of ingleandrhode.co.uk from administrators. According to Queensmith, the acquisition marks a “significant milestone” in its commitment to sustainability and ethical practices in the jewellery industry. Ingle and Rhode has been a “pioneering” force in ethical jewellery since 2007, distinguished by its B-Corp certification and dedication…
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6 MarchNews
Chancellor cuts NI by a further 2p as part of Spring Budget
Chancellor Jeremy Hunt has announced a further 2p cut to National Insurance falling from 10% to 8% from 6 April, as part of his Spring Budget for “long-term growth”. The reduction in National Insurance is expected to save the average worker £450 a year, or £350 for those who are…
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Feb- 2024 -23 FebruaryRetailers
Consumer confidence falls in February
UK consumer confidence dropped two points in February to -21, according to GfK’s long-running index. The survey revealed that four measures were down and one was unchanged in comparison to last month’s announcement. The index measuring changes in personal finances during the last year was down two points at -14.…
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7 FebruaryEconomy
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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Jan- 2024 -29 JanuaryRetailers
Ingle and Rhode to enter liquidation
Ethical jewellery business Ingle and Rhode has announced that the business is preparing for liquidation as a result of recent rising costs and lower turnover. The company was incorporated in 2007 and traded from premises at 14 Gees Court (just off Oxford Street) London W1 and via their website. The…
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2 JanuaryRetailers
Jewellery tops festive spending for 2023
UK jewellery and clothing sales have seen significant growth during the holiday period running from 1 November to 24 December, increasing by 8.3% and 8%, respectively, according to preliminary insights from Mastercard SpendingPuls. The report stated that the jewellery category was a “festive favourite”. In total UK retail sales for…
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Nov- 2023 -15 NovemberEconomy
Lower energy prices sees inflation drop to 4.6%
UK Inflation slowed sharply to 4.6% in October, beating economists expectations, thanks to a marked reduction in energy prices. According to the latest figures of the Office of National Statistics, housing and household services prices fell by 0.3% between September and October 2023, compared with a rise of 3.4% between…
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