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The Latest Breaking News from The British Retail Consortium

Food inflation jumps to 18-month high as chocolate and butter prices rise

Food inflation lifted to 4.2% this month from 4% in July, according to according to the British Retail Consortium-NIQ Shop Price Monitor.

Evening Standard

Christmas dinner warning as costs could rise after Labour tax changes

Two-thirds of retailers predict they will have to raise prices further this year

The Independent UK

Surging meat and tea prices drive food price inflation up for sixth month

Helen Dickinson of BRC said staples such as meat and tea were hit the hardest by price increases.

The Independent UK

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Hot weather lifts UK spending as fans and sports gear add to sales

Retail body says sales up by 3.1% year on year in June after drop in May, but Barclays finds shoppers are cautious

The Guardian - UK

Food prices pushed up by hot weather hitting harvest yields, say UK retailers

Rising fruit and vegetable prices contribute to jump in annual food price inflation in June to 3.7%

The Guardian - UK

UK food inflation rises for fourth month in a row as steaks beef up prices

Annual rate of food price increases hits 2.8% driven by rising cost of fresh produce but price inflation for all goods is falling

The Guardian - UK

Warm weather and Easter weekend boosted UK spending in April, says Barclays

Consumers shrugged off anxiety over effect of US tariffs as card spending grew by 4.5% year on year

The Guardian - UK

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Major supermarket announces new store trial which will track you as you shop

The trial will take place at Asda stores in Ashton, Chadderton, Harpurhey, Eastlands and Trafford Park in Greater Manchester

The Independent UK

FTSE 100 falls after plunging consumer confidence report

Polling by the British Retail Consortium found expectations for the economy worsened for the fifth consecutive month in February.

Evening Standard

Gold hits record high amid geopolitical worries; Amazon takes creative control of James Bond – as it happened

Spot price of gold is approaching $3,000/ounce while Amazon has acquired creative control of the spy franchise from the Broccoli dynasty.

The Guardian - UK

January sales give retail stores their strongest growth in almost two years

Total retail sales across the UK increased by 2.6% year on year in January, according to the British Retail Consortium (BRC) and KPMG.

The Independent UK

Consumer expectations for economy plunge to ‘new low’

A survey found expectations for the state of the economy over the next three months have worsened to minus 34, down from minus 27 in December.

Evening Standard

Consumer expectations for economy plunge to ‘new low’ amid job cuts

Hopes for the state of the economy over the next three months have dampened since December, according to a consumer confidence survey

The Independent UK

PM insists Reeves in post for ‘many years’ amid calls to rule out tax hikes

Conservative Party leader Kemi Badenoch asked Sir Keir Starmer if the country could ‘afford four more years of his terrible judgments’.

Evening Standard

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The Independent UK

Two thirds of retailers to hike prices because of Rachel Reeves’ budget, industry warns

The British Retail Consortium said 67 per cent of the finance bosses they asked said they would raise prices

The Guardian - UK

Retailers warn of higher prices in 2025 and urge ministers to ease tax burden

Companies grappling with higher employment costs say price of food may rise by 4.2% in latter half of year

The Guardian - UK

Biden blocks Nippon Steel’s $15bn bid for US Steel over national security fears – as it happened

Rolling coverage of the latest economic and financial news as the US president uses his final days in office to block a $15bn bid for US Steel

The Guardian - UK

Nearly 170,000 UK shop workers lost their jobs in 2024

Collapse of chains such as Homebase and Body Shop contributed to big rise, and another tough year is on the cards

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The Independent UK

Christmas ‘disastrous’ for retailers as households battle ongoing cost pressures

Retail footfall was 11.4% down on last year over the final full week before Christmas, according to Rendle Intelligence and Insights.

The Guardian - UK

UK growth revised down to zero; firms warn economy is heading for ‘worst of all worlds’ – as it happened

UK GDP flatlined in the July-September quarter, ONS reports, as companies warn October budget has hurt economy too

Evening Standard

Cash use increased for the second year in a row in 2023, say retailers

Cash accounted for nearly a fifth of transactions in 2023, with people making smaller purchases, the British Retail Consortium said.

The Guardian - UK

Global trade tensions and cyber attacks ‘threaten UK economy’; UK Black Friday spending ‘up 12%’ – as it happened

Bank of England says global risks remain high, and the outlook has become more uncertain and riskier

Evening Standard

Retailers suffer ‘disappointing’ October amid pre-Budget jitters

Total UK retail sales were up 0.6% year-on-year last month against a 2.6% increase last October, according to the BRC-KPMG Retail Sales Monitor.

The Independent UK

‘Amazon tax’ to save Britain’s high streets under consideration by Reeves

The British Retail Consortium, the industry’s trade body, welcomed the idea of reform but warned against the idea of simply punishing online players

The Guardian - UK

More than 70 retailers urge Reeves to make 20% cut to business rates

In letter to chancellor, Tesco and M&S are among firms warning tax could result in widespread store closures

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