Syndicate content

The economy

BCC: UK economic growth to halve in 2022

Expected GDP growth cut from 4.2% to 3.6%.

First budget surplus during COVID-19 pandemic

January 2022 sees budget surplus of £2.9bn.

Retail sales pick up in January after December slump

Sales grew by 1.9% in January 2022.

Inflation wipes out wage growth

Regular pay is down 0.8% in real terms.

UK economy contracted by 0.2% in December 2021

GDP equal to its pre-pandemic level.

Base rate of interest rises again to 0.5%

Interest rates rise for the second time in three months.

ONS developing ‘radical’ method to better measure inflation

Concerns inflation may be higher for low-income families.

Retail sales volumes drop in December 2021

Sales fell at the fastest rate in 11 months.

Businesses react as ‘Plan B’ restrictions end

All restrictions end on 26 January.

UK inflation hits 30-year high

Food prices largest contributor to rising inflation.