Economy – Page 3
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Analysis & FeaturesWill Reeves’ food tariff cuts actually help to lower inflation?
The food & drink industry is sceptical the plans will have any effect
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Comment & OpinionHospitality wants a VAT cut. But so does everyone else
Tom Kerridge is to spearhead #VATsTheProblem, a campaign calling on the government to halve the VAT rate on the food and drink served in eateries, boozers and the like
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NewsNumber of late and unpaid invoices shoot up 50% in sector amid Iran war
Data from insurer Atradius showed a 50% month-on-month spike in claims in March, the first full month since the start of the Iran war
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Analysis & FeaturesCan long-term bumper contracts save British farming?
Long-term contracts have become the norm, with retailers claiming they offer farmers security and cash to invest. Is it that straightforward?
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NewsConsumer confidence edges upwards in bank holiday boost
GfK’s monthly barometer nudged up to –23 in the month after April’s low of –25
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NewsRetail volumes drop 1.3% in April as motorists limit journeys
Automotive fuel volumes dropped by just over 10% month on month, as motorists that had stocked up in March then tried to limit their journeys
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NewsConsumer confidence lifts in May but outlook remains gloomy
The Iran war ceasefire helped raise shopper spirits, but concerns over rising food and fuel prices continue to weigh on shopper’s minds, warned the BRC
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NewsInflation falls to 2.8% in April ahead of Iran price surge
Inflation fell faster than expected in April, as the Consumer Price Index rate fell to 2.8%
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NewsIran war to drag down UK GDP growth 0.5 points in 2026
The US-Israeli war on Iran will knock 0.5 percentage points off the UK’s GDP growth in 2026, EY has forecast
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NewsConsumer confidence plummets as shoppers brace for Hormuz fallout
Consumer confidence has plummeted as shoppers brace themselves for the coming rise in living costs
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Analysis & FeaturesWhat is the government doing to keep food price inflation down? Not a lot
With a ‘tsunami’ of higher food prices on the horizon, the Chancellor has announced support measures – but the industry is not placated
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NewsRetail footfall hits five-year low as shoppers make fewer trips: BRC
Total UK footfall decreased by 10.7% in April, compared to a 2.4% decline in the previous month – the weakest performance recorded for five years
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NewsConsumer confidence falls for third month in a row
A four-point fall in confidence to –25 has taken GfK’s monthly consumer confidence barometer to its lowest level since October 2023
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NewsRetail sales beat expectations to rise 0.7% in March
Retail sales have fared better than expected during the start of the Iran war, rising 0.7% in March
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NewsConsumer confidence ‘in the doldrums’ as economic volatility drags on
Optimism in the state of the UK economy is at its ‘lowest on record’ according to the BRC’s-Opinium sentiment tracker measures consumer confidence over the next three months
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NewsFuel costs nudge up March inflation figures amid Middle East conflict
Alongside a 0.4 point jump in food inflation to 3.7%, rising prices at the pump have shown for the first time the effect of the Iran war on consumer prices
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NewsFDF maintains inflation forecast as it accuses government of lacking ‘urgency’
The FDF has warned of financial markets’ complacency and accused the government of lacking ‘urgency’ in a warning over the coming financial shock
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NewsConsumer confidence hits three-year low amid oil price chaos
The first quarter of 2026 saw the largest single-quarter fall in consumer confidence since Q1 2022, knocking levels down to a low of –14.1% last seen in Deloitte’s Consumer Tracker in Q3 2023
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NewsOil price plummets as Strait of Hormuz is ‘open for business’
Iran has declared the strait open to all commercial shipping for 10 days, the duration of a ceasefire agreed between Israel and Lebanon late on 16 April
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NewsEaster boosts food sales despite ‘lowest since 2023’ consumer confidence
Shoppers splashed out to celebrate seasonal events like Eid, Easter and Mother’s Day, however heightened fears over the Iran war will hamper retail sales, according to the latest BRC-KPMG retail monitor