Inflation
This coverage explores how inflation impacts the UK petcare industry, from rising supply chain costs to shifts in consumer spending. Pet Gazette reports on price trends, cost pressures for retailers and wholesalers, and strategies businesses are using to protect margins and maintain competitiveness. Coverage includes economic analysis, expert commentary, and case studies showing how inflation affects product pricing, sourcing, distribution, and overall market performance across the pet retail and supply sectors.
-
Sep- 2024 -19 SeptemberEconomy
BoE holds interest rates at 5%
The Bank of England (BoE) has decided to hold interest rates at 5% this month, having lowered them for the first time in four years in August. The bank voted by a majority of 8-1 to keep the rate the same in a bid to help “sustain growth and employment”.…
Read More » -
Aug- 2024 -1 AugustEconomy
BoE cuts interest rates for first time in 4 years
The Bank of England (BoE) has cut interest rates for the first time in four years, with the rate falling to 5%. The bank voted by a majority of 5–4 to reduce the rate by 0.25 percentage points to 5%, marking the first fall in inflation since March 2020, where…
Read More » -
Jun- 2024 -21 JuneEconomy
UK retail sales rose 2.9% in May
UK retail sales volumes rose by 2.9% in May 2024, following a fall of 1.8% in April 2024, according to the Office for National Statistics (ONS). Sales volumes rose across most sectors, with clothing retailers and furniture stores rebounding following poor weather in April. More broadly, sales volumes rose by…
Read More » -
20 JuneEconomy
BoE holds interest rates for 7th consecutive month
Interest rates have remained unchanged at 5.25% for the seventh consecutive month, the Bank of England has announced. The bank’s MPC voted by a majority of 7–2 to maintain the rate, despite inflation hitting its target and falling to 2% in May. UK inflation hit its target for the first…
Read More » -
May- 2024 -29 MayRetailers
Pets at Home PBT drops 3.2%
Pets at Home has revealed that its underlying profit-before-tax dropped 3.2% year-on-year to £132m for the year ended 28 March 2024. The company said it expected this drop as a result of short-term availability issues as it transitioned to its new distribution centre and weaker performance of discretionary accessories. This…
Read More » -
28 MayEconomy
Shop price inflation returns to ‘normal levels’, BRC says
Shop price annual inflation eased from 0.8% in April to 0.6% in May, according to the British Retail Consortium’s (BRC) latest shop price index. This has been confirmed to be below the three-month average rate of 0.9%, with the annual shop price growth being at its lowest since November 2021.…
Read More » -
24 MayEconomy
Retail sales slump 2.3% in April amid wet weather
Retail sales fell by 2.3% in volume over April, following a fall of 0.2% in March, as the retail sector was hampered by ongoing wet weather over the period. According to the Office for National Statistics (ONS), sales volumes were down across most sectors, with non-food stores particularly “doing badly”…
Read More » -
22 MayIndustry News
General election called for 4 July
Prime minister Rishi Sunak has confirmed that a general election will take place on Thursday 4 July. The prime minister informed the cabinet of his plans in a meeting held this afternoon (22 May). As a result the parliament will be dissolved next week. Sunak had previously confirmed that an…
Read More » -
Mar- 2024 -6 MarchEconomy
Chancellor cuts NI by a further 2p as part of Spring Budget
Chancellor Jeremy Hunt has announced a further 2p cut to National Insurance falling from 10% to 8% from 6 April, as part of his Spring Budget for “long-term growth”. The reduction in National Insurance is expected to save the average worker £450 a year, or £350 for those who are…
Read More » -
Feb- 2024 -16 FebruaryEconomy
Retail sales jump 3.4% giving optimism despite recession
Retail sales in the UK jumped 3.4% in January 2024 after falling 3.2% in December, according to data from the Office for National Statistics. This is the biggest rise in retail sales since April 2021 when the UK had just emerged from the third covid lockdown. The price of goods…
Read More »
