Economy – Page 27
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Analysis & FeaturesAutumn Budget 2017: the food & drink industry reacts
Chancellor Philip Hammond has announced his Autumn Budget, unveiling an increase to the national living wage, an April switch to CPI for business rates - and a surprise freeze in beer duty. Here’s how key industry bodies and companies have reacted.
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NewsAutumn Budget 2017 - as it happened
Coverage and key announcements by finance editor Alec Mattinson and how it affects the grocery industry
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NewsMary Portas urges Budget freeze on business rates
Business rates bills from 1 April next year are set to rise by £1.15bn in England
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NewsRetail leaders warn of price impact from Budget plastic tax
The new tax bombshell would be part of a consultation unveiled by Philip Hammond, said weekend press sources
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NewsConsumer spending to flatline over festive period
Spending by UK shoppers is set to slump in the run-up to Christmas as new research from Visa suggests consumer activity will be hit by weak wage growth and higher prices.
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NewsCity snapshot: Retail footfall slumps in run-up to Christmas
UK retail footfall fell by 2% year-on-year in October according to the BRC Springboard footfall and vacancies monitor – the largest rate of decline since the vote to leave the EU in June 2016. Plus sales jump but profits plunge at Carr’s Group and all the rest of the latest news from the City.
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NewsUK food & drink bodies urge Hammond to reform business rates
Twelve executives have urged the Chancellor to “take action” as £1.1bn tax hike looms
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NewsSoaring inflation adds £273m to business rates bill
The Retail Prices Index has rapidly increased from 2% last September
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NewsTesco shakes up commercial team with changes to buying
The retailer says it wants to create greater strategic and longer-term deals with fresh food suppliers
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NewsCity snapshot: UK consumer confidence edges up in September
Consumer confidence in the UK ticked up last month despite increasing worries about personal finance, according to the latest consumer confidence index from GFK.
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NewsAugust retail sales top market expectations
The Office of National Statistics has found UK retail sale volumes jumped by 1% in August compared to July – a significantly higher figure than the 0.3% growth the market predicted.
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NewsUK inflation jumps to 2.9% in August
The UK Consumer Prices Index jumped to a higher than expected 2.9% in August from 2.6% in July, driven by record price rises in clothing and footwear.
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NewsCity snapshot: Supermarket price inflation remains at 2.4%
Supermarket price inflation remained at its four-year high of 2.4% last month, with Tesco recording the largest increase in year-on-year prices. Plus Greene King’s share price plunges on warning over trading conditions, Diageo kicks off £1.5bn share buyback and all the latest news from the City.
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NewsRise in food and drink firms gunning for export growth in wake of Brexit
Food and drink producers are more optimistic about their growth prospects than they were a year ago as they plough more investment into expanding their businesses overseas in the aftermath of the UK’s decision to leave the EU, according to an annual industry report.
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NewsMeat, fish & poultry keeps inflation at four-year high
Rapidly rising protein prices are keeping supermarket inflation at four-year highs, according to the latest Grocer Price Index
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NewsCity snapshot: Solid August retail sales defy poor summer weather
UK retail sales rose 1.3% on a like-for-like basis in August according to the latest BRC-KPMG Retail Sales Monitor to shrug off the recent wet weather. Plus, the FTSE slides on North Korea worries, McBride boosted by Danish deal and all the latest news from the City.
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NewsAmazon price investment plan triggers global grocery fallout
More than $11bn was wiped off the value of the world’s largest supermarkets and food & drink manufacturers on 25 August
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NewsUK fruit and veg shields shoppers from rising prices in supermarkets
Home-grown fruit and vegetables have helped ‘keep a lid on’ rising prices in the supermarkets in August
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NewsScottish business rates review proposes 'Growth Accelerator'
Review also suggested properties should be revalued after three years instead of the standard five…
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NewsUK inflation remains stable at 2.6%
The UK’s Consumer Prices Index remained unchanged in July at 2.6%, defying expectations that inflation would rise again last month.