Cost Of Living

Energy price cap to rise 54% from April

Retail bosses are braced for a spending squeeze after it was revealed the energy price cap is set to increase by 54% from 1 April amid a “record” increase in global gas prices, in a move that is set to affect approximately 22 million customers. Energy regulator Ofgem announced that…

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UK economy surpassed pre-Covid levels in November

Gross domestic product (GDP) has surpassed its pre-pandemic level for the first time as it grew by 0.9% in November 2021, according to the latest Office for National Statistics (ONS) data. In the latest release, output in consumer-facing services grew by 0.8%, mainly because of a 1.4% increase in retail…

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Consumer confidence falls amid ongoing supply chain issues

UK consumer confidence has fallen back five points in September, largely attributed to both shop supply shortages and rising prices, according to new research by GfK. GfK’s Consumer Confidence Index decreased by five points to 13 in September, with all measures down in comparison to August’s announcement. The data showed…

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Dog walking one of the most popular ‘side hustles’

Dog walking has become one of the most popular ways for Brits to earn extra cash, according to new research. Commissioned by Oddsmonkey, the information revealed that Brits are using ‘side hustles’ such as dog walking and renting out the spare room to help cover the cost of living. As the annual…

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Inflation rises to its highest level for six years

Inflation rose to 3.1 percent in the month of November, figures from the Office of National Statistics (ONS) has revealed. According to the Consumer Prices Index (CPI), this was up from the three percent level seen in October, and is its highest level since March 2012. More expensive recreational goods…

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Retailers expect April pick-up after halt in sales growth

Retailers anticipate sales growth to pick up next month following flat sales in March, the CBI’s Distributive Trades Survey has reported. The survey revealed that flat retail sales volumes in the year to March ended a six-month run of slowing growth. Additionally, sales volumes were found to be well below…

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Retail sales growth continues but momentum slows

Retailers reported a year-on-year growth in sales volumes in the first half of February, the CBI has revealed. In its latest Distributive Trades Survey, which covers the first two weeks of February, the CBI revealed that 37 per cent of retailers saw an increase in sales volume in the year…

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