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.
-
Dec- 2022 -15 DecemberEconomy
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…
Read More » -
Nov- 2022 -17 NovemberGovernment & 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%…
Read More » -
Sep- 2022 -23 SeptemberEconomy
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…
Read More » -
22 SeptemberEconomy
BoE raises interest rates to 2.25%
The Bank of England has today (22 September) announced that interest rates will be raised by 0.5%, with rates rising from 1.75% to 2.25%. The latest announcement from the Monetary Policy Committee (MPC) comes as inflation remains at record highs for the UK, and marks the seventh consecutive rise in…
Read More » -
Aug- 2022 -10 AugustRetailing
Heatwave helps boost retail sales 2.3% in July
Retail sales increased 2.3% in July as the heatwave experienced across the UK helped boost demand for “hot weather essentials”, according to the latest data from the BRC and KPMG retail sales monitor. UK retail sales increased 1.6% on a like-for-like basis from July 2021, when they had increased 4.7%.…
Read More » -
4 AugustEconomy
BoE hikes rates to 1.75%, warns UK to enter recession until 2024
The Bank of England (BoE) has raised interest rates from 1.25% to 1.75%, marking the biggest rise in rates since 1995. In its latest announcement, the BOE also projected that the UK would fall into a recession in the fourth quarter of the year, which is expected to last for…
Read More » -
Jul- 2022 -25 JulyIndustry News
Retail accounts for 10% of UK administrations in 2022, study finds
The retail sector accounted for 10% of administrations in the first six months of the year – the third highest industry in the UK – according to analysis by full-service law firm Shakespeare Martineau. It found more than 620 businesses, 62 of which came from the retail industry, filed for…
Read More » -
12 JulyIndustry News
Cost of living crisis starts to impact sales, BRC finds
On a total basis, sales decreased by 1.0% in June, against an increase of 10.4% in June 2021, according to the latest figures from BRC’s sales monitor. This is below the three-month average decline of 0.8% and the 12-month average growth of 3.0%. UK retail sales decreased 1.3% on a…
Read More » -
8 JulyRetailing
Cost of living crisis weighs on retail sales growth
High levels of inflation and the deepening cost of living crisis have prompted further slowing of retail sales growth, according to BDO’s High Street Sales Tracker (HSST). It found that total like-for-like (LFL) sales, combined in-store and online, increased by +8.4% in June compared to the equivalent month in 2021,…
Read More » -
6 JulyRetailers
Mars Petcare latest to halt supplies to Tesco amid price dispute
Mars Petcare has halted supplies to Tesco as the supermarket faces its second dispute amid rising costs, as inflation continues to impact supplier and retailer relations. Mars Petcare, which produces brands such as Whiskas, Dreamies, Pedigree and Cesar, has paused supplies to Tesco until an agreement can be reached on…
Read More »
