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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May- 2022 -5 MayNews
BoE raises interest rates to highest level since 2009
The bank of England (BoE) has raised interest rates to its highest level since 2009 – marking the fourth time it has taken action since December.ย The new rate of 1%, up from 0.75%, is the BoEโs latest attempt to curb the rampant rise in inflation – also at its…
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Apr- 2022 -6 AprilDesigners
Motley to cease trading
Jewellery design platform Motley, which focused on selling and promoting independent jewellery, has announced it will cease operating. The news was announced by co-owners Cecily Motley and Ilana Lever in an open letter, who said that โthe small margins and punishing payment terms which retailers work to meant we would…
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Mar- 2022 -31 MarchRetailers
Lily Arkwright sales surge amid โstrong demandโ for lab diamonds
Lily Arkwright, the ethical and sustainable lab grown engagement ring retailer has reported it has experienced โstrongโ demand for ethical jewellery and its lab diamond engagement ring collections in the face of slowing UK online retail sales in February 2022. The company said it is mindful of supply chain issues…
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24 MarchRetailers
Retail industry responds to โunderwhelmingโ Spring Statement
Both Bira and CBI have expressed disappointment in the chancellorโs Spring Statement, with Bira having declared it is โunderwhelmed with the offerings for independent businessesโ. In his speech yesterday, Rishi Sunak outlined a series of measures to help combat the rising cost of living in his latest spring statement, including…
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17 MarchNews
BoE raises interest rates to 0.75%
The Bank of England has raised interest rates back to the pre-pandemic level of 0.75% as it tries to mitigate the effect of the rising costs of living and the impact that the conflict in Ukraine is having on the global economy. The Monetary Policy Committee (MPC) voted with a…
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16 MarchRetailers
Retail sales monitor shows โcause for optimismโ, Bira says
The British Independent Retailers Association (Bira) has said there is โcause for optimismโ after the recent BRC-KPMG retail sales monitor for February 2022 which revealed that UK retail sales increased 2.7% on a Like-for-like basis from February 2021. According to the BRC the performance comes on top of an improved…
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3 MarchCurrent Affairs
Gold prices spike amid Russian invasion of Ukraine
Prices of gold have reportedly surged to the highest level in more than a year in the hours after the Russian invasion of Ukraine on 24 February 2022, which the National Association of Jewellers (NAJ) said benefits from its appeal as a โsafe havenโ to investors. Bullion prices also rose…
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Feb- 2022 -18 FebruaryRetailers
Retail sales up 1.9% in January 2022
Retail sales volumes rose by 1.9% in January 2022 following a fall of 4.0% in December 2021, according to the latest figures from the Office for National Statistics. It also revealed sales volumes were 3.6% above their pre-coronavirus (Covid-19) February 2020 levels. Non-food stores sales rose by 3.4% as home…
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8 FebruaryNews
Consumer spending slows in January
Consumer card spending rose by only 7.4% in January compared to the same period in 2020, marking the smallest uplift since April 2021, as spending was dampened by ongoing Plan B restrictions, inflation, and rising energy costs. Data from Barclaycard found that spending on essential items grew by 10.4%, the…
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7 FebruaryEconomy
Consumer confidence falls for second consecutive quarter
The Deloitte Consumer Tracker has revealed UK consumer confidence fell by one percentage point in Q4 2021 to -11%, the second consecutive quarter of decline. Deloitte said the result comes after consumers started to feel the โsqueeze of inflationโ and pockets were hit with higher household bills. Personal expenditure in…
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