Record low for food inflation March 2, 2010 FOOD PRICES are increasing at their slowest annual rate in three years thanks to the falling cost of fresh food according to the British Retail Consortium’s (BRC)-Nielsen shop price index published today. Food prices were just 1.3 per cent higher on a year earlier in February compared to an annual increase of 2.9 per cent [...]
London retail sales growth slows down February 14, 2010 RETAIL sales in London grew at their slowest rate for five years as the stronger pound made the capital less attractive for overseas shoppers. Sales were 3.5 per cent up on the previous January, according to a report from the British Retail Consortium (BRC). In January 2009 sales figures grew by 6.5 per cent compared [...]
Deficit for UK traded goods worst in year February 9, 2010 THERE were more signs that the UK will face a tough slog back to economic recovery yesterday after trade data for the end of last year was weaker than expected. The UK’s deficit in traded goods widened to £7.3bn in December from £6.8bn the previous month; this is the largest deficit for a year as [...]
Retailers hit by worst January in 15 years as snow and VAT hike take toll February 8, 2010 THE UK high street shuddered last month as retailers suffered their worst January in 15 years due to snow and a lack of consumer confidence, the British Retail Consortium (BRC) will say today. Underlying sales values for January fell 0.7 per cent compared to a 2.6 per cent rise the year before. On a total [...]
ECONOMIC DIARY February 7, 2010 AFTER the Bank of England announced that it would be pausing, at least for now, its quantitative easing policy, the big event in the UK this week will be the quarterly inflation report on Wednesday morning. The Bank is expected to revise down its growth forecast while revising up its inflation predictions and will give [...]
Shop price inflation sees modest rise as retailers discount heavily February 2, 2010 DESPITE the January increase in VAT, shop price inflation rose a modest 0.2 per cent on the month as retailers offset the hike through heavy discounting and promotions, according to fresh data from the British Retail Consortium (BRC). Annual shop price inflation now stands at 2.3 per cent. Food inflation slowed for the first time [...]
Pubs and restaurants see sales jump in December despite gloom January 18, 2010 PUB and restaurant groups managed a 2.9 per cent year-on-year increase in sales in December despite poor weather, fewer Christmas parties and price hikes ahead of the VAT increase this month. However, the increase was lower than the 4.7 per cent total like-for-like growth in 2009. Mark Sheehan from Coffer Group, which published the figures, [...]
Weak pound fuels London sales boost January 18, 2010 SHOP sales in the capital soared over Christmas as tourists and Londoners embarked on spending sprees. The British Retail Consortium (BRC) reported that in London sales jumped 12 per cent in December – the best performance since it started publishing the figures in 2002. Visitors from Europe, China and the Middle East hit the shops, [...]
Morrisons to trump its retail rivals January 17, 2010 WM MORRISON supermarkets is expected to announce outstanding trading results this week as it emerges from the Christmas period outperforming its rivals. Like-for-like sales of the UK’s fourth biggest supermarket chain are predicted to have improved seven per cent on the previous year, adding to the impressive turnaround overseen by soon-to-depart chief executive Marc Bolland. Bolland [...]
Weak sterling helps push up inflation rate January 17, 2010 INFLATION is forecast to have surged in December, fuelling concerns that the Bank of England’s ultra-loose monetary policy is allowing inflationary pressures to build up. Economists on average expect the annual rate of inflation in December – published on Tuesday – to hit 2.5 per cent, with further rises in the pipeline. December marks the [...]