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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Feb- 2019 -14 February
UK inflation hits two-year low in January
The Consumer Prices Index (CPI) 12-month rate fell to 1.8% in January 2019, down from 2.1% in December 2018, according to the latest figures from the ONS. This fell below the Bank of England’s inflation target of 2% for the month, with the Retail Prices Index (RPI) also decreasing to…
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12 February
More retailers allowing international payments as Brexit looms
Analysis of the UK’s top 250 retailers has found a 19% year-on-year increase in the number of brands offering the option to pay in international currency. The figure forms part of an annual performance index carried out by e-commerce and digital agency, Visualsoft. The report examined the sector’s biggest names…
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8 February
61% of Brits worried high street will disappear in 10 years
Consumers are worried the high street is going to be lost completely due to the current store closures in the news, research by commercial brokers KIS Finance has revealed. A survey of 1,000 consumers in the UK, found 61% of Brits are worried the high street will disappear in the…
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7 February
Click-and-collect market to grow to £9.8bn by 2023
The UK click-and-collect market is set to rise 45.8% over the next five years to reach £9.8bn by 2023, according to analytics company GlobalData. However, growth is expected to slow as the fulfilment method matures and services offered by retailers are optimised. The company’s latest report, ‘Click & Collect in…
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5 February
Retail sales pick up in January
UK retail sales saw year-on-year growth of 2.2% in January following December’s report of the worst trading performance in a decade. According to the British Retail Consortium’s (BRC) Retail Sales Monitor, like-for-like sales saw an increase of 1.8% compared with the same month last year. Food items did well with…
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Jan- 2019 -31 January
UK consumer confidence down five points year-on-year in January
GfK’s long-running Consumer Confidence Index decreased by five points year-on-year to -14 in January 2019. The measure for the general economic situation of the country during the last 12 months has dropped four points to -35 in January, six points lower than January 2018, with expectations for the next 12…
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30 January
January shop price inflation highest since 2013
Shop price inflation increased to 0.4% in January, up from 0.3% in December 2018 – the fourth consecutive month of price increases and the highest inflation rate since April 2013. According to the figures from the BRC-Nielsen shop price index, non-food deflation continued to decelerate, with prices falling by 0.3%…
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29 January
Mike Ashley faces fine for late account filing of Mash Holdings
Mash Holdings, a company run by Sports Direct owner Mike Ashley, could be facing a fine as its accounts filings are six months late. The company’s filings were expected on the 23 July 2018 and have currently still not been submitted according to BBC news. As such the company could…
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28 January
Online retail tax could be unlawful under EU rules, Treasury warns
The government has said taxing online giants, like Amazon, through a sales tax could be illegal under EU rules. Under European Union State aid rules it is illegal for EU countries to give financial advantage to some companies and not others in a way which could distort fair competition. The…
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24 January
Retail spending bounces back in December despite ‘tough’ festive period
Retail spending bounced back in the UK in December 2018 after a tough November as GlobalData’s total retail index rose by 11.5 points versus the previous month. The company’s latest report ‘UK Monthly Spend Tracker – December’ revealed that despite improved spending in the month, many retailers started their sales…
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