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UK inflation rate hits 40-year high in May

The rate of inflation in the UK hit its highest point in 40 years in May as prices for food, energy and fuel continued to climb, new data shows. The Consumer Prices Index (CPI) rose by 9.1 percent in the 12 months to May 2022, up from 9 percent in April, according to data from the Office for National Statistics (ONS). The increase was in line...

22 Jun 2022

BusinessFeatured

UK consumer price inflation in March hits 30-year high

UK consumer price inflation in March hit its highest point since 1992 as fuel prices continued to surge. The Consumer Prices Index (CPI) rose by 7 percent in the year to March 2022, up from 6.2 percent in February, according to data from the Office for National Statistics (ONS). That figure was above economists' estimates of 6.7 percent,...

15 Apr 2022

BusinessFeatured

Retail sales fell slightly in February, but fashion and clothing sales up

UK retail sales dropped slightly in February as geopolitical uncertainty and inflation dampened consumers' desire to spend, though sales for clothing and footwear were up, new data shows. Overall retail sales volumes fell 0.3 percent last month following a rise of 1.9 percent in January. But February sales were still 3.7 percent above pre-Covid...

25 Mar 2022

BusinessFeatured

UK economy grows 7.5 percent in 2021 as it rebounds from 2020 slump

The UK economy grew last year at its fastest pace since the Second World War as the country recovered from the crippling impact of the pandemic in 2020. According to the latest figures from the Office for National Statistics (ONS), the UK’s GDP saw an annual rise of 7.5 percent last year, the fastest rate since 1941. That growth was in contrast...

11 Feb 2022

Retail

Retail sales fall in December as Omicron deters high street shoppers

The UK retail sector saw a drop in sales last month as the Omicron wave deterred shoppers from visiting the high street, new data shows. Retail sales volumes fell 3.7 percent in December compared to the month before, according to the latest figures from the Office for National Statistics (ONS). But that was still 2.6 percent higher than February...

21 Jan 2022

Retail

UK retail jobs fall in second quarter

The UK’s retail industry lost 89,000 jobs in the second quarter compared to the same period a year ago, new data shows. Despite strong retail sales in recent months, the number of retail jobs fell to 3.015 million during the quarter, according to the latest ONS figures. But it was a brighter picture for the overall job market, with the number of...

14 Sept 2021

RetailFeatured

Fashion helps drive surge in April retail sales

Strong shopper demand for fashion helped drive a surge in retail sales in the UK in April as the country eased restrictions after months of lockdown. According to The Office for National Statistics (ONS), retail sales volumes increase sharply by 9.2 percent month-on-month in April, as non-essential retailers were permitted to reopen from April...

21 May 2021

RetailFeatured

Retail sales slightly recover in February but fashion sales halve

UK retail sales volumes recovered slightly in February ahead of the easing of lockdowns restrictions, but fashion sales halved, new data reveals. Overall retail sales volumes partly recovered with an increase of 2.1 percent in February compared with the 8.2 percent fall seen in the previous month. That meant sales were still down by 3.7 percent...

26 Mar 2021

Retail

UK retail lost 67,000 jobs in second wave of pandemic

The number of retail jobs in the UK dropped by 67,000 in the last three months of 2020 during the second wave of the pandemic, new data reveals. That brought the country’s total number of retail jobs to 3.09 million at the end of last year, according to the latest figures from the Office for National Statistics (ONS). Helen Dickinson, the chief...

23 Mar 2021

Retail

UK fashion sales dive in November

The UK saw a sharp fall in the sales volume of clothing in November compared to the month before, as lockdowns across the four nations hindered retailers' hopes for a pre-Christmas sales rebound. Clothing retailers were the worst-hit category, with a monthly fall of 19 percent, according to the latest figures from the Office for National...

18 Dec 2020

Retail

UK retail sales continue to improve in September

UK retail sales increased by 1.5 percent in September compared to August, marking the fifth consecutive month of growth. Sales are now 5.5 percent higher than they were at February's pre-pandemic levels, according to the Office for National Statistics (ONS). In the three months to September, retail sales volumes increased by 17.4 percent...

23 Oct 2020

RetailFeatured

July retail sales surpass pre-lockdown levels but fashion still suffers

UK retail sales volumes in July were higher than peak pre-lockdown levels, but fashion continued to struggle, new data reveals. Total retail sales volumes increased by 3.6 percent last month when compared with June - that’s 3 percent above pre-pandemic levels in February, prior to the country going into lockdown, according to The Office For...

21 Aug 2020