Bank of England
This coverage analyses the Bank of England’s decisions and policies and their impact on the UK retail sector, focusing on interest rates, inflation, consumer spending, and economic forecasts. Reporting provides context on how monetary policy shapes retail performance, costs, and demand — offering insight for executives, managers, and professionals making strategic decisions in a shifting economic environment.
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Oct- 2023 -18 OctoberEconomy
Inflation remains at 6.7% despite fall in food prices
Inflation remained unchanged at 6.7% in September as a fall in food prices was offset by an increase in the price of fuel. According to the latest figures from the Office for National Statistics (ONS), food and non-alcoholic beverage prices fell by 0.1% between August and September 2023, compared with…
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Sep- 2023 -22 SeptemberFeatures
The Golden Quarter: Perfect promotions through intelligent merchandising
The 100-day countdown to Christmas – a period which also includes key dates such as Halloween, Black Friday and Cyber Monday in quick succession – is the busiest period in the retail calendar, and unquestionably the most challenging. This year’s Golden Quarter will likely be one of the most difficult…
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21 SeptemberEconomy
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 5–4 to maintain the current rate, though four members preferred to increase the rate to 5.5%. The MPC…
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20 SeptemberNews
Today’s news in brief-20/09/23
Dunelm announced record sales in its full-year results, with revenues rising by 5.5% to £1.64bn. However, profits fell by 7.7% to £192.7m. The company attributed the strong sales to cost reductions on over 1,000 products and the strength of its product range. Dunelm also invested over £20m in digital operations…
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20 SeptemberEconomy
Inflation ‘unexpectedly’ falls to 6.7%
The headline rate of inflation has fallen by 0.1% to 6.7% in August, according to the latest data from the Office for National Statistics (ONS), despite prior concerns from economists that the rate was set to rise. The largest downward contributions to the monthly change in annual rates came from…
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Aug- 2023 -8 AugustClothing & Shoes
Superdry agrees £25m secondary lending facility
Superdry has announced that it has agreed a deal with Hilco Capital Limited for a secondary lending facility worth £25m. The facility with Hilco is a 12 month term with the option to extend and is at an interest rate of 10.5% plus the Bank of England base rate on…
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3 AugustEconomy
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 bank’s 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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3 AugustHigh Street
July footfall drops for the first time since 2009
Footfall across UK retail destinations declined by -0.3% over the month from June to July 2023, marking the first time it dropped in the month since 2009. According to the latest data from Springboard, there was a month on month decrease in footfall in high streets of -1.7%, whilst in…
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Jul- 2023 -12 JulyEconomy
Cost of living crisis to wipe £65bn from household finances
Inflation and the cost of living crisis are set to wipe £65bn from household finances across the UK, with real earnings not expected to return to growth until May 2024, according to a new report from Grant Thornton and Retail Economics. The report, which asked 2,000 adult consumers in the…
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Jun- 2023 -26 JuneSupermarkets
Supermarket leaders to be questioned over rising prices
Supermarket leaders are set to be questioned by MPs this week regarding claims they could be profiteering from rising food and fuel prices. According to The Sunday Times, Morrisons CEO David Potts will be among the supermarket bosses to be questioned by MPs on the business committee tomorrow (27 June).…
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