UK inflation to bump above 40-year high on soaring food and energy prices June 20, 2022 The cost of living in the UK bumped above an already 40-year high last month driven higher by soaring energy and food prices. That’s according to the City’s consensus prediction of Wednesday’s new inflation figures from the Office for National Statistics (ONS). Analysts expect prices to have climbed 9.1 per cent over the year to [...]
Tesco slashes price of 500 essentials including fruit and veg, rice and tuna to help shoppers with cost of living June 30, 2023 Tesco has cut the price of more than 500 household essentials, in a boost to shoppers after the surge in the cost of living. The supermarket giant confirmed reductions in the price of key products such as fruit and vegetables, rice and tuna, as retailers have faced growing scrutiny over higher food costs. Latest official [...]
Ex Asda boss: Cutting prices for cash-strapped Brits is ‘very important’ after Sunuk plea June 23, 2023 Supermarkets regard cutting prices as “very important”, according to a former boss of Asda, after the Prime Minister warned retailers about pricing “responsibly and fairly”. Andy Clarke, who served as Asda’s chief executive officer between 2010 and 2016, said the big chains were “heavily focused” on competitive pricing as the industry hit back over suggestions [...]
Hospitality sector sees ‘worrying’ year as pub insolvencies jump 66 per cent November 20, 2023 The number of pub and bar insolvencies in the last year rose from 438 to 725, a "worrying sign," some industry officials say.
One more for the road: Pub group mounts further expansion plans June 7, 2023 City Pub Group has snapped up a total of 52 per cent of shares in Mosaic Pub and Dining Group – taking its portfolio of up market pubs to 52 sites across London, Wales and the South of England. The pub group, which owns the popular Chelsea haunt The Phene, first bought stakes in the [...]
Can Sainsbury’s flat earnings squash profiteering claims? November 2, 2023 Sainsbury's has been ramping up its loyalty Nectar card scheme so that shoppers can get discounts on their groceries during a period of high inflation.
Bank of England governor Andrew Bailey slams firms for participating in ‘greedflation’ July 6, 2023 Businesses charging unfair prices for products must be “tackled” to help bring down inflation, the Governor of the Bank of England has claimed. Andrew Bailey, speaking to the BBC’s Newsround programme, said there is evidence that some retailers are “charging too much” for petrol. His comments come after the UK’s competition watchdog, the Competition and [...]
FTSE 100 suffers worst day in five months after inflation surprise dampens rate cut bets January 17, 2024 London’s FTSE 100 has clocked its worst day in five months after new figures showed a surprise uptick in inflation at the end of last year.
The Notebook: Victoria Scholar on good news for inflation, the economics of Taylor Swift and the state of crypto July 6, 2023 Where the City’s movers and shakers get a few things off their chest. Today, it’s Victoria Scholar from Interactive Investor Supermarkets sound a positive note on inflation Some good news on inflation at last – Sainsbury’s says food inflation is starting to fall. Its CEO Simon Roberts said the company is “putting all our energy [...]
Will thousands of price cuts be enough to help Tesco win big amid cost of living crisis? October 1, 2023 Investors will turn their focus to ‘Big Four’ grocer Tesco’s half year results on Wednesday to see if the company’s consistent slew of price cuts has continued to help it win big with customers amid the cost of living crisis. The supermarket behemoth has weathered the economic storm well, with its market share ticking up [...]