UK Shop Prices Fall For First Time In Nearly 3 Years: BRC

RTTNews | Před 58 dny

(RTTNews) - UK shop prices declined for the first time in nearly three years in August as deep discounting to shift summer stocks pushed down non-food prices further, data released by the British Retail Consortium showed on Tuesday.

The shop price index declined 0.3 percent year-on-year in August, in contrast to the 0.2 percent increase in July. This was the lowest rate since October 2021. The three-month average of the shop price index remained flat.

The decline in non-food prices deepened to 1.5 percent from 0.9 percent in the preceding month. At the same time, food prices grew at a slower pace of 2.0 percent after rising 2.3 percent in July.

Fresh food inflation slowed further to 1.0 percent from 1.4 percent in July. Ambient food inflation weakened to 3.4 percent from 3.6 percent.

Retailers discounted heavily to shift their summer stock, particularly for fashion and household goods, BRC Chief Executive Helen Dickinson said.

The latest discounting followed a difficult summer of trading caused by poor weather and the continued cost of living crunch impacting many families, Dickinson noted.

Dickinson said retailers will continue to work hard to keep prices down and households will be happy to see that prices of some goods have fallen into deflation. "The outlook for commodity prices remains uncertain due to the impact of climate change on harvests domestically and globally, as well as rising geopolitical tensions," she said. "As a result, we could see renewed inflationary pressures over the next year," Dickinson added.

Značky : GBP

UK Pay Growth Stalled In September, Likely To Slow Next Year: Survey

Growth in the employee earnings in the U.K. stalled in the September quarter and the rate of increase is expected to fall next year as employers weigh the cost, the performance of their companies and possibly lower inflationary pressures. Median pay award forecast for the next 12 months was 3 percent.

RTTNews | Před 1 dnem

UK Budget Deficit Widens More Than Estimated

The UK budget deficit widened more than officially estimated in September and also hit the highest level for the month since 2021, the Office for National Statistics reported Tuesday. Public sector net borrowing increased to GBP 16.6 billion in September from GBP 14.5 billion in the previous year. This was the third highest September borrowing since monthly records began in January 1993.

RTTNews | Před 2 dny

UK House Price Growth Weakens: Rightmove

UK house prices increased at a below seasonal average pace in October due to the rise in buyer choice and increasing seller competition, property website Rightmove said Monday. House prices grew 0.3 percent month-on-month in October, which was much lower than the average seasonal 1.3 percent increase at this time of year. Prices had increased 0.8 percent in September.

RTTNews | Před 3 dny

UK Retail Sales Rise Unexpectedly

UK retail sales logged an unexpected growth in September on higher sales of technology products, the Office for National Statistics said Friday. Retail sales grew 0.3 percent on month in September, confounding expectations for a 0.3 percent fall. This marked the third consecutive increase. Sales had increased 1.0 percent in August and 0.8 percent in July.

RTTNews | Před 6 dny

UK Inflation Falls Below 2% Target

UK inflation fell below the 2 percent target and also hit the lowest in more than three years in September, piling pressure on the Bank of England to ease policy at the November meeting. Consumer price inflation weakened more-than-expected to 1.7 percent in September from 2.2 percent in August, the Office for National Statistics reported Wednesday.

RTTNews | Před 8 dny

UK Wage Growth Weakest In More Than 2 Years

UK wage growth softened to the lowest in more than two years in the three months to August, adding support to expectations that the central bank will cut interest rates further at the next meeting. In the three months to August, average earnings excluding bonus increased 4.9 percent from the previous year, slower than the 5.1 percent increase in the three months to July, data from the Office f

RTTNews | Před 9 dny

UK Economy Returns To Growth

The UK economy returned to growth in August but the pace of expansion was weaker than in the first half of the year, official data revealed Friday. The real economy grew 0.2 percent in August after showing nil growth in July and June, the Office for National Statistics said. The rate came in line with expectations.

RTTNews | Před 13 dny

UK House Prices Rise For First Time In 2 Years: RICS

UK house prices increased for the first time in two years in September as expectations about future interest rate cuts lifted housing market activity, survey data published by Royal Institution of Chartered Surveyors, or RICS, showed Thursday. The house price balance rose to 16 percent in September from a flat result in August. The balance turned positive for the first time since October 2022.

RTTNews | Před 14 dny

EURUSD	1.07974	GBPUSD	1.29629	AUDUSD	0.6654
USDJPY	152.002	USDCAD	1.38178	USDCHF	0.86584