Rolling coverage of the latest economic and financial news, including the latest eurozone GDP data
Inflation across UK shops has fallen to its lowest level since May 2022, as households benefitted from a slowdown in price rises of food and other goods.
Annual shop price annual inflation eased to 2.9% in January, new data from the British Retail Consortium and NielsenIQ show. That’s down from 4.3% in December, meaning prices are still rising, but at a slower rate.
“Some New Year cheer as January shop price inflation slid to its lowest level since May 2022. Non-food goods drove the fall, as many retailers offered heavily discounted goods in their January sales to entice consumer spend amidst weak demand.
Good news for the morning brew as the price of tea and milk fell, while evening tipples remained more expensive on the back of increased alcohol duties.
EUR/USD is trading lower at 1.0832 (-0.18%) ahead of the EA flash GDP data, expected to show a second consecutive quarter of contraction (-0.1% exp) and confirm the Euro Area entered recession.
Continue reading…Rolling coverage of the latest economic and financial news, including the latest eurozone GDP dataInflation across UK shops has fallen to its lowest level since May 2022, as households benefitted from a slowdown in price rises of food and other goods.Annual shop price annual inflation eased to 2.9% in January, new data from the British Retail Consortium and NielsenIQ show. That’s down from 4.3% in December, meaning prices are still rising, but at a slower rate.“Some New Year cheer as January shop price inflation slid to its lowest level since May 2022. Non-food goods drove the fall, as many retailers offered heavily discounted goods in their January sales to entice consumer spend amidst weak demand.Good news for the morning brew as the price of tea and milk fell, while evening tipples remained more expensive on the back of increased alcohol duties.EUR/USD is trading lower at 1.0832 (-0.18%) ahead of the EA flash GDP data, expected to show a second consecutive quarter of contraction (-0.1% exp) and confirm the Euro Area entered recession. Continue reading…
