Economy
The latest news, updates and analysis on the economy and how it is affecting the UK retail industry. Sign up to the Daily Briefing and let Retail Sector’s business journalists keep you in the picture.
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Apr- 2025 -1 April
Retailers face £5.6bn rise in costs as Budget comes into play
New research by Retail Economics, along with frontline specialist Yoobic, has found that retailers face a £5.56bn rise in costs…
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1 April
Retailers refrain from price rises despite looming costs, BRC finds
Retailers did not resort to price rises throughout March, according to the latest BRC-NIQ Shop Price Index, despite rising cost…
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Mar- 2025 -28 March
Clothing and household goods help boost retail sales 1% in Feb
Retail sales rose by 1% in February, thanks to a strong performance in non-food stores such as clothing, household goods…
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26 March
Chancellor resists calls for business relief in Spring Statement
Chancellor Rachel Reeves has resisted calls from businesses for relief ahead of the upcoming tax changes this April, as part…
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26 March
Inflation ‘unexpectedly’ falls to 2.8% in February
Inflation unexpectedly fell to 2.8% in February in much welcome news for the chancellor ahead of the Spring Statement later…
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21 March
London’s store closures return to pre-pandemic levels for first time
Five stores closed each day in Greater London in 2024, with four new stores opening, according to the latest data…
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20 March
BoE holds interest rates at 4.5%
The Bank of England (BoE) has voted to hold interest rates at 4.5%, having cut the rate last month to…
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20 March
UK consumer confidence improves in March as Gen Z set to spend
UK consumer confidence improved slightly to -35 in March, up from -37 in February, the BRC has revealed. According to…
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20 March
Quarter of a million retail jobs lost in five years, ONS finds
There are now 249,000 fewer retail jobs than there were five years ago, according to the latest data from the…
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14 March
UK GDP unexpectedly falls 0.1% in Jan
The UK economy shrank unexpectedly by 0.1% in January as production in the manufacturing sector struggled, according to the latest…
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