Rolling coverage of the latest economic and financial news
UK shop prices are dropping at a faster rate, fuelling hopes of a Bank of England rate cut in November.
The British Retail Consortium has reported that prices were 0.8% lower this month than in October 2023 – compared to an annual fall of 0.6% in September.
“Food inflation eased, particularly for meat, fish and tea as well as chocolate and sweets as retailers treated customers to spooky season deals.
Retail is already paying more than its fair share of taxes compared to other industries.
The Chancellor using tomorrow’s Budget to introduce a Retail Rates Corrector, a 20% downwards adjustment, to the business rates bills of all retail properties will allow retailers to continue to offer the best possible prices to customers while also opening shops, protecting jobs and unlocking investmen
Continue reading…Rolling coverage of the latest economic and financial newsLower shop prices boost prospect of Bank of England rate cutUK shop prices are dropping at a faster rate, fuelling hopes of a Bank of England rate cut in November.The British Retail Consortium has reported that prices were 0.8% lower this month than in October 2023 – compared to an annual fall of 0.6% in September.“Food inflation eased, particularly for meat, fish and tea as well as chocolate and sweets as retailers treated customers to spooky season deals.Retail is already paying more than its fair share of taxes compared to other industries.The Chancellor using tomorrow’s Budget to introduce a Retail Rates Corrector, a 20% downwards adjustment, to the business rates bills of all retail properties will allow retailers to continue to offer the best possible prices to customers while also opening shops, protecting jobs and unlocking investmen Continue reading…
