Retail sales slip as spending cuts loom September 16, 2010 Retail sales volumes fell last month for the first time since January, in a sign that consumer demand may be slipping ahead of planned government spending cuts, official data showed. The Office for National Statistics said sales volumes fell 0.5 per cent last month, and revised July’s sales growth down to 0.8 per cent from [...]
Surge in food prices keeps inflation high September 14, 2010 HEADLINE annual inflation held steady at 3.1 per cent in August as sharp rises in the cost of air fares, clothing and food prices offset softer petrol prices, official figures revealed yesterday. The Office for National Statistics (ONS) said that inflation rose 0.5 per cent between July and August but that the annual rate remained [...]
CPI remains at 3.1pc September 14, 2010 Consumer price inflation held steady in August, after unexpectedly strong rises in airfares, clothes and food prices offset falling fuel costs, official data showed. The Office for National Statistics (ONS) said consumer price inflation came in at 3.1 per cent last month in contrast to economists’ expectations for a fall to 2.9 per cent. On [...]
FTSE traders torn between two directions September 13, 2010 THE FTSE 100 closed 63 points up at 5,565.5 points yesterday, rallying to a four-month high. Good banking and mining figures drove it upwards and a clear momentum emerged. While the upturn is indisputable, the jury is out on how long it will last. The index is out on a limb and opinion is split [...]
Food inflation could derail VAT increase September 12, 2010 FURTHER rises in food prices could cause annual inflation to accelerate to four per cent and endanger the government’s plans to hike VAT to 20 per cent in January, a leading City economist has warned. Henderson’s chief economist Simon Ward said that recent rises in global food commodity prices may boost annual CPI food inflation [...]
DO YOU EXPECT CPI INFLATION TO FALL BELOW 3 PER CENT IN AUGUST? September 12, 2010 SIMON HAYES | BARCLAYS CAPITAL “Contrary to the consensus, which expects a fourth consecutive monthly fall in the headline rate, we expect it to rise to 3.2 per cent from 3.1 per cent in July, largely reflecting a second consecutive large monthly rise in food prices.” PHILIP SHAW | INVESTEC “Against expectations, petrol prices appear [...]
Commodities drive surge in food inflation September 7, 2010 FOOD price inflation surged to its highest level in more than a year as rising commodity prices fed through into the supermarkets, the British Retail Consortium (BRC) will say today. The BRC’s monthly shop price index shows that annual food inflation increased to 3.8 per cent in August from 2.5 per cent in July, the [...]
Food inflation to benefit UK supermarkets September 6, 2010 UPWARD pressures on food prices appear to be here to stay. Global demand is increasing while droughts and fires last month hit harvests in Russia and Ukraine. Market researcher Kantar Worldpanel anticipates that UK grocery inflation will rise to an annualised 4 per cent by the end of 2010 from its current rate of 2 [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 1, 2010 FINANCIAL TIMES MEAT PRICE SURGE FUELS FEARS OF FOOD INFLATION Global meat prices have hit a 20-year high as robust demand from emerging countries has coincided with a drop in production by exporters such as the US and Australia, fuelling concerns about rising food inflation. The UN Food and Agriculture Organisation’s index of meat prices [...]
Selling prices accelerate at a record pace August 26, 2010 SHOP price inflation accelerated in August at its fastest rate since February 1992, the CBI revealed yesterday, raising the ugly spectre of persistently rising prices and creating even more of a headache for the Bank of England. In its August distributive trades survey, the business lobby reported that a net 58 per cent of firms [...]