Inflation
This coverage analyses the impact of inflation on the UK retail industry, focusing on costs, pricing strategies, consumer spending, and operational challenges. Reporting highlights economic trends, retailer responses, supply chain pressures, and leadership decisions to manage margins and demand. Designed for executives and managers, it offers insights to navigate inflationary pressures while maintaining competitiveness.
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Jun- 2024 -21 JuneEconomy
UK retail sales jump 2.9% in May
UK retail sales volumes rose by 2.9% in May 2024, following a fall of 1.8% in April 2024, according to the Office for National Statistics (ONS). Sales volumes rose across most sectors, with clothing retailers and furniture stores rebounding following poor weather in April. More broadly, sales volumes rose by…
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20 JuneEconomy
BoE holds interest rates for 7th consecutive month
Interest rates have remained unchanged at 5.25% for the seventh consecutive month, the Bank of England has announced. The bank’s MPC voted by a majority of 7–2 to maintain the rate, despite inflation hitting its target and falling to 2% in May. UK inflation hit its target for the first time…
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19 JuneNews
Today’s news in brief-19/6/24
UK inflation has hit its target for the first time in almost three years, with consumer price inflation easing to 2% in May, down from 2.3% in April. The Bank of England last reached this target in July 2021. The Office for National Statistics attributes the decline primarily to falling…
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19 JuneEconomy
Inflation hits 2% target for first time in three years
UK inflation has hit its target for the first time in almost three years, as consumer price inflation eased to 2% in the year to May, down from a rise of 2.3% the prior month. The Bank of England last hit the 2% target in July 2021. According to the Office…
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18 JuneNews
Today’s news in brief-18/6/24
Supermarket sales in the UK saw a modest increase of just 1.0% for the four weeks to June 9, 2024, marking the slowest growth since June 2022. This sluggish performance is attributed to poor weather and falling inflation, with average shopper visits dropping slightly from 16.4 to 16.3 times compared…
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18 JuneSupermarkets
Supermarket sales slow in May as wet weather dampens visits
Take-home grocery sales rose by just 1.0% over the four weeks to 9 June 2024, marking the slowest increase since June 2022 as poor weather and falling inflation impacted the sector, according to the latest data from Kantar. Growth in footfall has also stalled, with the average shopper visiting a…
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17 JuneEconomy
Peak international spending returns to pre-pandemic levels, ONS finds
Spending by international visitors in August, the traditional UK high season, has largely recovered since the Covid-19 pandemic, according to the latest figures from the Office for National Statistics (ONS) and Visa. The ONS found that places in the UK with the highest concentration of seasonal spend by international tourists…
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14 JuneAdvice
Squeezed retailers are losing margin to wasteful online expenditure – and they don’t even know it
In recent years, retailers have faced a relentless squeeze on their margins. The impact of inflation has driven up the costs of goods, rent on stores and warehouses, and energy bills. Furthermore, supply chain disruptions caused by ongoing global conflicts, and a cost-of-living crisis, have further tightened budgets. These challenges…
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14 JuneSupermarkets
Tesco maintains guidance and grows market share as Q1 sales rise
Tesco has revealed that its market share has risen to 27.6% in the 13 weeks ended 25 May 2024, as the group welcomed strong volume growth and rising sales over the period. It comes as the supermarket’s sales in the UK and Ireland rose by 3.6% to £14.3bn over the…
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12 JuneNews
Today’s news in brief-12/6/24
The UK economy stalled in April 2024, showing no growth after a 0.4% increase in March, as wet weather significantly dampened consumer spending, according to the Office for National Statistics. Services output did rise by 0.2% for the fourth consecutive month and grew by 0.9% over the three months to…
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