Inflation

Small firms ‘squeezed’ by inflationary pressure, says FSB

The Consumer Prices Index (CPI) remains above the Government’s 2 percent target. The CPI is a measure that examines the weighted average of prices of a basket of consumer goods and services. Its 12-month rate rose to 2.9 percent in May 2017, up from 2.7 percent in April, reported the Office for…

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Businesses unable to cope with interest increases, research shows

One in 25 businesses would be unable to pay off its debts if the interest rates were to increase, research from insolvency trade body R3 has shown. Some 79,000 (4%) UK companies said that a small increase would affect them financially, almost a quadrupling (20,000) of figures from previous research…

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Online sales slow according to new data

Year-on-year internet sales growth has slowed and fallen below the long-run average, according to the latest CBI Quarterly Distributive Trades Survey. Retail sales were broadly flat in the year to May following strong growth in April. The survey of 117 respondents also found that orders placed with suppliers fell modestly…

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UK retail sales drop as inflation rises

UK retail sales dropped by 1.8% in March marking the largest year on year decline since 2010 and exceeding economists’ predictions of a 0.5% decline. Coinciding with the rise of inflation, the volume of goods sold in store and online fell 1.4% in the first quarter of the year. The…

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Retail footfall expected to grow 5.4% over Easter weekend

Retail footfall in the UK is set to increase 5.4 percent over the Easter weekend, according to retail expert Springboard. The prediction comes after March retail footfall results showed there was a year-on-year increase of 1.2 percent. This increase broke the six-month consecutive decline. The projected increase was said to…

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UK retailers fail to lift sales despite higher footfall

Despite a positive footfall level for March, UK retailers failed to grow sales. According to BDO’s High Street Sales Tracker (HSST), UK retailers have failed to grow sales for the fourth month in a row, with like-for-like sales flat (0 percent) in March despite warmer weather and Mother’s day seeing…

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Small business confidence bounces back

The Federation of Small Businesses (FSB) has revealed today that UK small business confidence in the last quarter bounced back to the level reported before the EU referendum campaign began. Small business are feeling more confident that previously, according to the FSB’s Small Business Index (SBI) which has now moved into…

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What will Brexit mean for the pet industry?

Contradictory claims and political turmoil. There’s no doubt that the recent EU Referendum left much of the UK scratching their heads and asking ‘what’s going to happen next?’ The pet trade is no exception. Following a vote on June 23, 51.9 percent of voters within the UK chose to leave the European Union.…

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UK inflation rate reaches 0.5% in March

The UK inflation, as measured by the Consumer Prices Index, rose to 0.5 percent in March 2016, according to the Office for National Statistics. Although the rate has increased gradually since last October – reaching 0.3 percent in February – in terms of historical context it is still relatively low.…

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The Budget: At a glance guide

On March 16, George Osborne revealed his eighth budget as Chancellor. Pet Gazette brings you an at-a-glance guide to the highlights for businesses: Growth estimates for the year have been revised from 2.4 to 2.2 percent Inflation of 0.7 percent is expected for 2016 The headline rate of corporation tax…

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