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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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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Oct- 2023 -24 OctoberRetailers
Cost of living likely to hurt Christmas spending
Four in 10 consumers have said that they will be spending less on Christmas presents this year, according to data from KPMG UK. However, 45% of those surveyed stated that their budget for Christmas presents remained the same as last year. Only 4% of all the consumers surveyed said they…
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Sep- 2023 -21 SeptemberNews
Bank of England keeps interest rates unchanged at 5.25%
Following 14 straight rate rises, the Bank of England (BoE) has kept interest rates unchanged at 5.25%. At its latest meeting, the Monetary Policy Committee (MPC) voted by a slim majority of 5โ4 to maintain the current rate, though four members preferred to increase the rate to 5.5%. The MPC…
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Aug- 2023 -8 AugustEconomy
Retail sales growth slows in July amid heavy rain
The UKโs total retail sales increased by 1.5% in the four weeks to 29 July, against the 2.3% growth experienced in the same month last year. This was below the three-month average growth of 3.5% and the 12-month average growth of 3.9%, according to BRC data. This lacklustre growth in…
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3 AugustNews
BoE raises interest rates to 5.25%
The Bank of England (BoE) has raised interest rates for the 14th consecutive time to 5.25% in a bid to combat inflation. The bankโs Monetary Policy Committee (MPC) sets monetary policy to meet the 2% inflation target. At its meeting ending on 2 August 2023, the MPC voted by a…
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Jun- 2023 -22 JuneNews
BoE raises interest rate to 15-year high
The Bank of England (BoE) has raised interest rates for the 13th consecutive time to 5%, the highest level in 15 years, after it was revealed that inflation remained at 8.7% in May. The BoEโs Monetary Policy Committee (MPC) voted by a majority of 7-2 to increase the rate by…
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May- 2023 -11 MayNews
BoE raises interest rate for 12th time to 4.5%
The Bank of England (BoE) has raised interest rates for the 12th consecutive time to 4.5%, up from 4.25%. The BoEโs Monetary Policy Committee (MPC) voted by a majority of 7-2 to increase the rate by 0.25% in a bid to meet the 2% inflation target. The committee said it…
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Mar- 2023 -23 MarchNews
BoE raises interest rates to 4.25%
The Bank of England (BoE) has announced that interest rates will be raised by 0.25% to 4.25%, the highest rate in almost 15 years, following an unexpected rise in inflation last month.ย The move marks the 11th consecutive increase from the BoE and follows the jump in inflation to…
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15 MarchNews
Spring Budget: Corporation tax to rise to 25%
Corporation tax is set to rise from 19% to 25% for firms with profits over ยฃ250,000, as part of a number of measures announced in chancellor Jeremy Huntโs Spring Budget. To help offset the corporation tax rise, Hunt also announced a provision of ยฃ9bn of โfull capital expensingโ which for…
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Feb- 2023 -8 FebruaryRetailers
Inflation to add ยฃ18.2bn to UK retail sales
Inflation is set to add around ยฃ18.2bn to non-food sales in the UK according to the Ecommerce Delivery Benchmark Report 2023, commissioned by Auctane in partnership with Retail Economics. Sales values are expected to hit ยฃ249bn in 2023 with the additional ยฃ18.2bn, a 2.6% increase, driven entirely by rising consumer…
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