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.

Dec- 2022 -

15 December

Economy

Bank of England raises interest rates by 0.5% to 3.5%

The Bank of England (BoE) has announced that interest rates will be raised by 0.5%, bringing the base rate of interest to 3.5%, the highest level in 14 years. At a meeting held on 14 December 2022, the Bank’s MPC voted by a majority of 6-3 to increase rates by…
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Nov- 2022 -

17 November

Government & Legislation

Chancellor freezes tax thresholds in Autumn statement

Chancellor Jeremy Hunt has announced a raft of measures to help “stabilise” the UK economy and reduce inflation, with tax cuts and spending cuts totalling £55bn in the Autumn statement. As part of the new measures, Hunt confirmed that tax as a percentage of GDP will rise by over 1%…
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Oct- 2022 -

28 October

Retailers

PetPlace unveils £250k net-zero investment

PetPlace has invested over £250k in powering its net-zero vision, which has seen up to 450 solar panels installed in stores in Abergele and Llangefni, with Ruthin, Mold and Gledrid, Oswestry sites set to follow. The retailer has also introduced electric charging points at Gledrid, Llangefni and its Kinmel Bay…
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5 October

Manufacturers

Verm-X receives B Corp certification

Verm-X has announced it has received certification as a B Corporation (or B Corp) for having met “rigorous” social and environmental standards which “represent its commitment to goals outside of profit”. Verm-X was founded in 2002 by managing director Philip Ghazala in response to concerns around anthelmintic resistance and the…
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Sep- 2022 -

23 September

Economy

Chancellor announces sweeping tax cuts in first mini-budget

Chancellor Kwasi Kwarteng has today (23 September) announced a ream of tax cuts alongside a £60bn energy support package as part of the new government’s first mini-budget. Setting out his aims for economic growth, Kwarteng said that he wants the economy to increase by 2.5% annually in the medium-term, through…
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Aug- 2022 -

26 August

Economy

Energy price cap to rise by 80% to £3,549 from October

Ofgem has confirmed that the energy price cap will increase by 80% to a record £3,549 a year for dual fuel for an average household from 1 October 2022. The rise will affect those on standard variable tariffs, with the record annual bill only being based on typical usage. At…
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23 August

Features

Mr Bug and challenging the yuck factor

I know you’ve had a varied career in the past. What did you do before the idea of Mr Bug came about? I was a rock musician for many years and I owned a music studio in London. I started it in Shepherds Bush – a tiny studio – and…
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May- 2022 -

18 May

Economy

Inflation hits 40-year high

UK inflation has hit its highest level in 40 years during the month of April, driven by the rising cost of energy bills. The figure, according to the latest figures from the Office of National Statistics (ONS), was up from 7% in March. The ONS said that around 75% of…
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16 May

Industry News

Jollyes unveils manager for new Stirling store

Jollyes has named the manager for its latest store in Stirling as recruitment for new colleagues gets underway. The new store at Unit 3 Burghmuir Retail Park in Stirling will open in mid-June and employ 12 colleagues. Jollyes has recruited Angela Rennie, who has worked for leading retailers including Home…
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5 May

Economy

BoE raises interest rates to highest level since 2009

The bank of England (BoE) has raised interest rates to its highest level since 2009 – marking the fourth time it has taken action since December. The new rate of 1%, up from 0.75%, is the BoE’s latest attempt to curb the rampant rise in inflation – also at its…
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