Economy
Economic conditions have a direct impact on consumer spending, supply chain costs, and trading performance across the UK pet industry. Pet Gazette tracks how inflation, interest rates, labour shortages, and broader macroeconomic pressures affect pet retailers, wholesalers, and brand distributors. Coverage includes commentary on pet sector resilience during downturns, price sensitivity among shoppers, and shifts in demand for premium vs value ranges. We also report on government economic policy, retail footfall data, and financial forecasts relevant to pet businesses navigating changing market conditions.
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Aug- 2023 -3 AugustEconomy
BoE raises interest rates to 5.25%
The Bank of England (BoE) has raised interest rates for the 14th consecutive time to 5.25% in a bid to combat inflation. The bankโs Monetary Policy Committee (MPC) sets monetary policy to meet the 2% inflation target. At its meeting ending on 2 August 2023, the MPC voted by a…
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Jul- 2023 -26 JulyManufacturers
Ensus injects ยฃ90m into Redcar plant for animal feed manufacturing unit
Ensus UK Ltd. has announced that its parent company plans to invest around ยฃ90m for a new high protein feed at the Redcar plant in Teesside and improve the overall operational reliability and energy efficiency of all plant operations. The major part of the investment will be the construction of…
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Jun- 2023 -22 JuneEconomy
BoE raises interest rate to 15-year high
The Bank of England (BoE) has raised interest rates for the 13th consecutive time to 5%, the highest level in 15 years, after it was revealed that inflation remained at 8.7% in May. The BoEโs Monetary Policy Committee (MPC) voted by a majority of 7-2 to increase the rate by…
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14 JuneRetailers
Sniffers partners with LBU to develop new own-brand products
Halifax pet treats company Sniffers Pet Care has partnered with marketing experts at Leeds Beckett University to develop its new โNawโ own-brand products and enter new markets. A team of Leeds Business School academics will work with Sniffers Pet Care on the two-year Knowledge Transfer Partnership (KTP), which is part-funded…
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May- 2023 -11 MayEconomy
BoE raises interest rate for 12th time to 4.5%
The Bank of England (BoE) has raised interest rates for the 12th consecutive time to 4.5%, up from 4.25%. The BoEโs Monetary Policy Committee (MPC) voted by a majority of 7-2 to increase the rate by 0.25% in a bid to meet the 2% inflation target. The committee said it…
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Mar- 2023 -23 MarchBusiness
BoE raises interest rates to 4.25%
The Bank of England (BoE) has announced that interest rates will be raised by 0.25% to 4.25%, the highest rate in almost 15 years, following an unexpected rise in inflation last month.ย The move marks the 11th consecutive increase from the BoE and follows the jump in inflation to 10.4%…
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15 MarchEconomy
Spring Budget: Corporation tax to rise to 25%
Corporation tax is set to rise from 19% to 25% for firms with profits over ยฃ250,000, as part of a number of measures announced in chancellor Jeremy Huntโs Spring Budget. To help offset the corporation tax rise, Hunt also announced a provision of ยฃ9bn of โfull capital expensingโ which for…
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8 MarchManufacturers
Earth Animal becomes certified B corporation
Pet health and wellness company Earth Animal has announced that it has achieved B corporation certification. The company stated that B Corp Certification was a way to โadvance the brandโs core valuesโ and โdemonstrate its commitment to positive impact, transparency and integrityโ. Earth Animal achieved the certification in part through…
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Feb- 2023 -2 FebruaryBusiness
Prodog Raw launches โEconomy Coreโ range
Raw dog food producer Prodog Raw has launched a range of affordable products named โEconomy Coreโ. Customers are now able to purchase a โLovely Chubblyโ range of affordable products. Each 450g chub will cost ยฃ2.15, with four different formulas being available; beef and chicken, chicken and lamb, chicken and fish,…
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2 FebruaryEconomy
BoE raises interest rates to 4%
The Bank of England (BoE) has announced that interest rates will be raised by 0.5%, bringing the base rate of interest to 4%, the highest level in 14 years. The increase, which is the tenth consecutive increase, was decided after the bankโs Monetary Policy Committee (MPC) voted by a majority…
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