Inflation

Inflation forces Brits to reduce discretionary purchases as consumer card spending grows in March. However, pubs and clubs flourished during the coronation weekend.

UK interest rates have been raised for the 12th time in a row in a further attempt by the Bank of England to slow the rising cost of living, increasing the Bank's base rate from 4.25 to 4.5 per cent.

"Making money off your home is ideal for people that don't have much time and want to generate cash to help with their bills," says Greg Wilson, CEO and co-founder of Quotezone.co.uk.

Just when it looked like we reached a turning point in the fight against inflation, figures from last-month show its impacts are still biting retailers. Inflation has taken food prices 8.9% higher than this time last year.

As UK CPI figures show a slight ease in inflation, businesses in the hospitality industry face a tough year ahead with food prices persistently high.

Over a third of the organisations across the UK's critical national infrastructure (CNI) anticipate a rise in cybercrime as a direct result of the current economic crisis.

A hike in expected US inflation over the next year comes ahead of next month's federal reserve decision on interest rates. Meanwhile, OPEC cuts increase the price of oil.

The Office for National Statistics reported that the "prices of food and non-alcoholic drinks rose at the fastest rate in more than 45 years in the 12 months to February 2023."

Despite the tough economic challenges that have rattled the UK in recent years, opportunities are ripe for UK SMEs to innovate and flourish like never before.

As both businesses and individuals suffer from the high cost of living and inflation of 10.4 per cent, employers can support their employees in many ways without breaking the bank.

The hospitality sector says energy price hike of £7.3 billion is unsustainable in the wake of reduced government support, as it also faces reduced consumer spending

European inflation presents a mixed bag, with eases in inflation when energy and food prices are included in measures, but persistence when excluded.

Food inflation has risen by 15 per cent in a year, as prices in Britain's shops reach unprecedented levels. Experts say retailers must focus on their price differentiation strategy as consumers' purse strings "continue to feel the squeeze".

As worker shortages plague the UK economy amidst a cost of living crisis, new research shows good communication is key to talent retention.

A recent survey reveals that the UK workforce is divided over Jeremy Hunt's Budget announcements, with the CEO of CV-Library stating that "personal finances remain the key driver for the overwhelming majority".

Businesses are "on their knees" thanks to energy prices, inflation and the wage crisis, according to Michael Queenan, co-founder and CEO of Nephos Technologies.

Insight and analysis into the energy market from BDSwiss CEO MENA demonstrates the undetermined nature currently facing one of the world's leading markets.

United Kingdom inflation eased to 10.1% in January 2023 and eased the pressure on the Bank of England. Many retailers, however, need to maintain higher product prices.

Research from Metapack, ShipStation and Retail Economics reveals consumers tend to pay more for less, with inflation adding £18.2 billion to UK non-food sales, regardless of the decline in volumes by 4.9%.

The National Education Union declared seven days of walkouts in February and March after nine out of 10 union teacher members voted for strike action.

The management of South London Pub opened a soup kitchen to help the homeless amidst inflation and hiring challenges on firms.

Even renowned hedge fund manager Paul Tudor Jones believes a bullish turnout is in the making for Bitcoin.

Senior economist Boris Glass said the U.K. economy has foregone economic activity of £6.6 billion in each of the 10 quarters since the 2016 referendum.

Almost six in 10 British households have admitted having to make 'significant financial sacrifices' during the festive period.

UK central bank expects economic growth to fall from 1.7% this year to 1.6% in 2018 before picking up again.

Reading underlines challenge facing the central bank as inflation remains below it's goal of just under 2%

Rail operators expected to hike fares by 3.5%, as trade unions complain of poor service for money.

New research suggests monthly incomes are at their lowest reflecting an ongoing squeeze on household incomes.

Analysts warn that if wages do not rise in line with inflation consumers' real purchasing power will decrease.

The amount that Brits wanted to borrow last year amounts to £251 for every person in the country.