Inflation

The figures show that between June and August of this year, wages rose at an annual rate of 7.8 per cent, higher than average inflation over the same three months.

The latest sales-monitor report from the British Retail Consortium has revealed a slowdown in retail sales growth in the UK for September. Despite a fall in inflation, the high cost of living continues to place pressure on households' budgets.

The decision to hold the rate comes after figures revealed an unexpected slowdown in inflation in August.

Grocery price inflation has fallen to its lowest level for more than a year, causing major supermarkets to slash prices.

Asian countries like India are resorting to high export duties on grain exports to contain global food inflation while the UK is reducing dependency on Ukraine.

Despite the cost of living crisis and rising inflation, Sainsbury's chief executive believes that supermarket prices are about to start falling.

The last time rates were this high was in April 2008, in the midst of the global financial crash, with the UK's central bank expecting inflation to fall below five per cent in the autumn or winter.

The UK food and consumer goods business is facing challenges, including inflation and labour shortages, according to the Institute of Grocery Distribution.

The Bank of England warns that nearly one million UK households will face higher mortgage payments due to rising interest rates, potentially impacting financial stability.

Retail sales saw a slight improvement in June, with like-for-like (LFL) sales increasing by only 1.9 per cent, according to the latest data from BDO LLP.

Inflation could be felt even at the All England Lawn Tennis & Croquet Club.

A recent ranking shows Britain's global competitiveness dropping for the second year in a row, as business executives lose confidence in the country.

More than 11 million people in the UK faced hunger in the past year, according to research conducted by the food bank charity Trussell Trust.

Less booze in your drink as soaring costs and reduced consumer spending pose challenges for brewing sectors.

The Bank of England is expected today to raise the interest rate for the 13th time in a row, despite recent forecasts of an improving economic outlook.

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".