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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Apr- 2022 -12 AprilFeatures
The environmental impact of pet ownershipย
Sustainability is a crucial focus for consumers and pet food is no exception. The demand for eco-friendly pet food options is on the rise as pet owners look to reduce their carbon footprint while meeting the nutritional needs of their furry friends. Reducing โcarbon pawprintsโ has made headlines in recent…
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11 AprilEconomy
UK GDP slows to 0.1% in February
Gross domestic product (GDP) slowed in the UK as the economy only saw 0.1% growth in February, down from a growth rate of 0.8% in January. According to the Office for National Statistics (ONS), services grew by 0.2% and was the main contributor to February’s growth in GDP, although this…
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Mar- 2022 -23 MarchEconomy
Spring Statement: Chancellor raises NI threshold to ยฃ12,570
The chancellor has outlined a series of measures to help combat the rising cost of living in his latest spring statement, including increasing the national insurance threshold by ยฃ3,000.ย Speaking in parliament today (23 March), Rishi Sunak began his speech by warning it is yet unclear what the impact of…
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18 MarchFeatures
13 Spring Statement predictions
With both the global and UK economies coming under pressure from the rising cost of living crisis, which has only been exacerbated by Russiaโs invasion of Ukraine, all eyes will be on the chancellor when he makes his Spring Statement speech on 23 March 2022. Here, Christy Wilson, tax associate…
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17 MarchEconomy
BoE raises interest rates to 0.75%
The Bank of England has raised interest rates back to the pre-pandemic level of 0.75% as it tries to mitigate the effect of the rising costs of living and the impact that the conflict in Ukraine is having on the global economy.ย The Monetary Policy Committee (MPC) voted with a…
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16 MarchRetailers
Retail sales monitor shows โcause for optimismโ, Bira says
The British Independent Retailers Association (Bira) has said there is โcause for optimismโ after the recent BRC-KPMG retail sales monitor for February 2022 which revealed that UK retail sales increased 2.7% on a Like-for-like basis from February 2021. According to the BRC the performance comes on top of an improved…
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Feb- 2022 -4 FebruaryConsumers
Over 70% of consumers concerned about environmental issues
Over 70% of consumers are concerned about environmental and sustainability issues, according to the TWCโs โDo good, feel goodโ report. The report also confirmed that sustainability concerns are already influencing where they are shopping for groceries โ and will do so more in the future. Over a third of consumers…
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3 FebruaryEconomy
BoE raises interest rates to 0.5%
The Bank of England (BoE) has raised interest rates for the second time in three months to 0.5%, up from 0.25% previously. The BoE Monetary Policy Committee (MPC) confirmed it voted by a majority of 5-4 to increase Bank Rate by 0.25 percentage points, to 0.5%. Interestingly, it revealed those…
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Jan- 2022 -14 JanuaryEconomy
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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Oct- 2021 -27 OctoberIndustry News
Chancellor unveils 50% rates discount for Retail, Hospitality and Leisure
Chancellor Rishi Sunak has unveiled a 50% discount on business rates for the hospitality, retail and leisure sectors (up to ยฃ110,000), equating to a business tax cut worth ยฃ1.7bn, the biggest single-year rates cut for firms in over 30 years. Unveiling his latest Budget in the Commons today (27 October),…
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