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The economy

Retail sales fall in May

ONS report shows a drop in food purchases

Inflation rises to 9.1%

CPI rate at the highest level for 40 years.

Bank of England raises interest to 1.25%

Interest rate hits 13-year-high.

Economy contracts in April, figures show

Test and trace decline sees GDP shrink by 0.3%.

£31m investment to help cut emissions

Funding includes aid to move away from gas oil and improve carbon capture.

Business footfall increases for Jubilee weekend

Overall footfall is still at lower levels than previous years.

Retail sales volume rose in April 2022

Sales volumes in three months to April continue to drop.

Recession fears grow amid stagnating economy

Concerns grow as economy shrinks by 0.1% in March.

Sunak sets out ‘plan for growth’ but falls short of immediate support

Chancellor insists the Government “stands ready to do more”.

UK inflation hits 40-year high of 9%

Macroeconomy now businesses’ number one concern.