Latest news with #BritishRetailConsortium
Yahoo
2 days ago
- Business
- Yahoo
UK inflation drops slightly to 3.4% in May 2025
The UK Consumer Prices Index (CPI) increased by 3.4% over the 12 months ended May 2025, a slight decline from the 3.5% rise in the year leading up to April, according to data released by the Office for National Statistics (ONS). May saw a CPI increase of 0.2%, marginally lower than the 0.3% increase recorded in May of the previous year. The most significant decrease in the monthly variation of the CPI annual rate was attributed to the transport sector. Upward pressures on the rate were primarily driven by increases in the food sector, along with furniture and household goods. Core CPI, which excludes the volatile categories of energy, food, alcohol and tobacco, saw a 3.5% increase in the year ending in May - a decrease from the 3.8% rise recorded in the year to April. The annual rate for CPI goods climbed from 1.7% to 2.0%, while the annual rate for CPI services decelerated from 5.4% to 4.7%. British Retail Consortium director of Insight Kris Hamer stated: 'Headline inflation held at 3.4% as higher bills and new business costs introduced in April continued to filter through into the economy. Worryingly for consumers, the price of the weekly shop rose once again as food inflation continued its upward trajectory, reaching its highest level since February last year. However, there were some bright spots. Deflation persisted in the clothing and footwear category and within the food category breakfast items such as eggs, bread and cereals fell in price on the month, offering some relief.' Negative impacts from various sectors were somewhat counterbalanced by the rising costs of food and non-alcoholic beverages, which saw a 4.4% price increase over the 12 months to May, an acceleration from the 3.4% increase in the preceding year to April. This rate for May is the highest since February 2024, when it reached 5%. In terms of monthly changes, prices for food and non-alcoholic beverages climbed by 0.7% in May, contrasting with a decrease of 0.3% during the same month in the previous year. Hamer added: 'Since October, retailers have warned that the costs from the Chancellor's [October 2024] Budget could not be fully absorbed and would inevitably lead to higher prices for shoppers. Food inflation is now above 4% and looks set to increase further later in the year. The government must now take action to relieve cost pressures retailers are facing. Ensuring no shop pays more under business rates reform would be a meaningful step forward, offering much needed relief to an industry that continues to see prices, job losses and store closures all rising.' "UK inflation drops slightly to 3.4% in May 2025" was originally created and published by Retail Insight Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Business
- Yahoo
UK inflation drops slightly to 3.4% in May 2025
The UK Consumer Prices Index (CPI) increased by 3.4% over the 12 months ended May 2025, a slight decline from the 3.5% rise in the year leading up to April, according to data released by the Office for National Statistics (ONS). May saw a CPI increase of 0.2%, marginally lower than the 0.3% increase recorded in May of the previous year. The most significant decrease in the monthly variation of the CPI annual rate was attributed to the transport sector. Upward pressures on the rate were primarily driven by increases in the food sector, along with furniture and household goods. Core CPI, which excludes the volatile categories of energy, food, alcohol and tobacco, saw a 3.5% increase in the year ending in May - a decrease from the 3.8% rise recorded in the year to April. The annual rate for CPI goods climbed from 1.7% to 2.0%, while the annual rate for CPI services decelerated from 5.4% to 4.7%. British Retail Consortium director of Insight Kris Hamer stated: 'Headline inflation held at 3.4% as higher bills and new business costs introduced in April continued to filter through into the economy. Worryingly for consumers, the price of the weekly shop rose once again as food inflation continued its upward trajectory, reaching its highest level since February last year. However, there were some bright spots. Deflation persisted in the clothing and footwear category and within the food category breakfast items such as eggs, bread and cereals fell in price on the month, offering some relief.' Negative impacts from various sectors were somewhat counterbalanced by the rising costs of food and non-alcoholic beverages, which saw a 4.4% price increase over the 12 months to May, an acceleration from the 3.4% increase in the preceding year to April. This rate for May is the highest since February 2024, when it reached 5%. In terms of monthly changes, prices for food and non-alcoholic beverages climbed by 0.7% in May, contrasting with a decrease of 0.3% during the same month in the previous year. Hamer added: 'Since October, retailers have warned that the costs from the Chancellor's [October 2024] Budget could not be fully absorbed and would inevitably lead to higher prices for shoppers. Food inflation is now above 4% and looks set to increase further later in the year. The government must now take action to relieve cost pressures retailers are facing. Ensuring no shop pays more under business rates reform would be a meaningful step forward, offering much needed relief to an industry that continues to see prices, job losses and store closures all rising.' "UK inflation drops slightly to 3.4% in May 2025" was originally created and published by Retail Insight Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Bloomberg
2 days ago
- Business
- Bloomberg
Gen Z Drives Britain's Consumer Confidence to Highest This Year
UK consumer confidence jumped to its highest level this year, boosted by rising optimism among Generation Z after the latest increase in the minimum wage. The British Retail Consortium said its gauge measuring expectations for the economy over the next three months rose to minus 28 in June, up from minus 36 last month. It was the highest reading since December.
Yahoo
5 days ago
- Business
- Yahoo
Summer shopping starts slow as footfall falls across UK
Retail footfall in the UK fell by 1.7% in May compared with the same month in 2024, according to new data from BRC‑Sensormatic spanning 4–31 May 2025. This represents a sharp reversal from April's strong rise of 7.2% and signals a subdued start to the summer shopping season. Footfall on High Streets dropped by 2.5%, down from a rise of 5.3% in April. Shopping centre visits fell by 2.3%, a marked turnaround from April's 5.6% growth. Analysis shows that across the UK nations, England experienced the steepest decline at 2.0%, while Northern Ireland, Scotland and Wales saw smaller decreases ranging between 0.4% and 1.4%. Retail parks were the only outlet to register growth, albeit modest at 0.2%, compared with a 7.5% surge in April. Retail consultant Andy Sumpter notes that warmer May weather may have encouraged consumers to choose outdoor leisure over store visits. Nevertheless, he highlights that May's performance is an improvement over May 2024, which saw a 3.6% decline, suggesting greater stability in footfall this year. Helen Dickinson, Chief Executive of the British Retail Consortium, said that although market conditions had stabilised, high household bills had weighed on consumer confidence and reduced store visits. She added that retailers are facing higher operating costs following changes introduced in the government's 2024 Budget. Dickinson urged that proposed reforms to business rates in the 2025 Budget must not increase costs for any shop, stressing the need to support investment in high streets and town centres. Both Dickinson and Sumpter agree that while cost pressures remain, consumer sentiment is showing signs of recovery. Sumpter points to an uptick in optimism around personal finances and the broader economy, remarking that retailers are now focusing on experience, value and convenience to convert seasonal footfall into sustainable growth. Supporting this, AlixPartners' Matt Clark observes that the May data reflects a 'relatively steady month' and that mixed but valuable trading opportunities arose during the month's two bank holidays. Retailers will be watching closely to see if the summer season delivers a boost to retail footfall. Manchester, noted for its summer events, remains a bright spot and one of the top-performing English cities. The wider retail sector is expected to lean on targeted strategies around experience-led shopping, ongoing promotions, and consumer convenience to stabilise footfall as the summer progresses. As shoppers weigh up essential bills against discretionary spending, the high street's recovery hinges on balancing economic pressures with stronger local engagement and smarter government policy. "Summer shopping starts slow as footfall falls across UK" was originally created and published by Retail Insight Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Irish Examiner
5 days ago
- Business
- Irish Examiner
Caitríona Redmond: Are self-service checkouts risky?
Do you use the self-service checkout in your local retailer? If so, you will have noticed plenty of CCTV cameras — either mounted on the ceiling, or suspended on a long stick. The camera is pointed at the checkout and monitors what has been scanned and whether you have completely scanned what you intend to buy. Amazon 'bricks and mortar' shops have been using 'just walk out technology' for several years. There are no tills, the shop receives no cash, customers scan their card and log into their Amazon account on entry and then they are automatically charged on leaving. Computer vision, sensor fusion, deep machine learning models, and generative AI are all tools that Amazon uses. It's a ground-breaking way to shop but certainly not one for the technophobes. Several retailers intend to employ a (video assistant referee) VAR-style technology to identify whether an item has been scanned and paid for or not. This would also employ a form of machine learning and generative AI tools. While these types of technology have already been implemented effectively in Britain, some of the newer anti-shoplifting mechanisms have yet to make an appearance here. UK-based retailers have introduced sliding plastic panels or shelf shields. These panels make it more difficult for shoplifters to remove multiple items in one swoop and retain shoppers in stores for longer as the time taken to remove items from the shelves increases. You could call this a win/win for the retailer, as the more time consumers spend in their stores presents ample chances to convert more sales. The British Retail Consortium reports that violence and abuse towards retail/shop workers rose by 50% in 2024. Shoplifting offences in England and Wales rose by 20% last year according to the UK statistics office. But they believe this is an underestimation as not all offences are reported. These statistics are not tracked in the same way in Ireland, but theft from shops in 2024 accounted for 44% of all theft-related offences according to the CSO. The cost-of-living crisis continues to put pressure on us all. The rise in shoplifting of necessities such as nappies and baby milk has reportedly risen in line with the number of hard-pressed families. Retailers hope that increased surveillance at the tills will reduce shoplifting and protect their staff. This doesn't solve the underlying poverty, however, and the Government will also have to examine solutions such as food banks and other cost-of-living interventions to combat the wider poverty issue as families begin to cut back on their spending. Remember that retailers are businesses who see installing CCTV at checkouts, along with other aforementioned measures, as a way for them to protect their profit margins. Presumably, the cost of installing surveillance technology at checkouts and elsewhere is cheaper than the alternative. However, all this new technology can come at the cost of your personal data. I contacted the Data Protection Commissioner for their advice, and they say that recognisable images captured by CCTV systems are personal data and therefore subject to the provisions of both the GDPR and the Data Protection Act 2018. The DPC has plenty of information and guidance on their website for anybody considering the use of CCTV on their premises. Interestingly, the DPC says that under the principle of accountability, a data controller must ensure that any new technology is risk assessed, along with a personal data impact assessment, amongst other actions. Asda in Manchester recently trialled facial recognition technology that involved customers' faces being picked up on CCTV, scanned, and compared against individuals on an internal watchlist. It would be interesting to see if similar systems pass the Irish DPC's robust legislation and oversight. I suspect this personal identification is something we in Ireland will not have to worry about for some time to come, especially considering the DPC's stance. Self-service checkouts have their fans, and some consumers prefer this shopping experience over standing in line at the conveyor belt. For those who opt go to virtually staff-free, it can be a quicker way to get the shopping done, particularly if using a handheld scanner. There's a lot to be said for the classic shopping experience however, and a slower journey through the retail space. If a consumer enters the supermarket with the mindset that it's a chance to chat, and meet up with friends, and have valuable human interactions at the checkout, they won't be disappointed. Retailers can offer a valuable space for communities. From a collection stand for local charities and organisations, to stocking locally produced items; self-service checkouts may undermine this holistic attitude to supermarket shopping. CCTV in supermarkets may be a necessary evil, and we are depending on the retailers to use this information proportionally. Still, I wonder if we would be better removing the self-service tills and returning to the conveyor belt and cash register? Our extended communities would be all the better for more face-to-face contact and we may have less digital surveillance, too. It's certainly something to think about. Redmond Recommends Thinking of returning to education this year but the fees are astronomical? Both Springboard Courses and MicroCreds are now open for applications. Depending on the course you choose, fee reductions can be as much as 90%. I completed a degree in 2025 thanks to Springboard funding — and while it was challenging, I thoroughly enjoyed it and can personally recommend the scheme. It's 'Summer sale' season again and we are about to be bombarded with big percentage deductions on red stickers. It's a great time to remind you not only to read the label, but also to check if you are really getting value for money on discounted items. The CCPC says that businesses must display the 'prior price', and you can find more information on this on their website.#
