Tag: prices

House prices bounced back in July, says Nationwide

Image copyright EPA House prices bounced back in July, climbing 1.7% during the month compared to a 1.5% fall in June, according to the Nationwide. “The bounce back in prices reflects the unexpectedly rapid recovery in housing market activity since the easing of lockdown restrictions,” it said. Activity has been boosted by pent-up demand and the stamp duty holiday. But… Read more →

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Clothing and games push up UK shop prices

Image copyright Dan Mullan The UK’s inflation rate rose to 0.6% in June as the coronavirus lockdown began to ease. The Consumer Prices Index (CPI) picked up slightly from May’s four-year low of 0.5%, the Office for National Statistics (ONS) said. Food and alcohol prices fell, but prices for clothing and games rose, the ONS said. Despite the slight increase… Read more →

Will Rishi Sunak cut shop prices to boost the High Street?

Image copyright Reuters “Timely, temporary and targeted” was the advice given to the Treasury Select Committee on stimulating the economy by the former US Treasury Secretary Larry Summers in the depths of the 2008 financial crisis. These words found their way into the pre-Budget documents to describe the immediate 13-month VAT cut from 17.5% to 15% announced by then Chancellor… Read more →

House prices see largest monthly fall for 11 years, says Nationwide

Image copyright Getty Images House prices fell 1.7% in May from the previous month, the largest monthly fall for 11 years, according to the Nationwide. Annual house price growth halved from 3.7% to 1.8%, as the coronavirus crisis hit market activity. The latest HMRC data showed that residential property transactions fell 53% in April compared with 2019. “The medium-term outlook… Read more →

Mirrors and shears prices set to fall in Brexit tariff plan

Image copyright Getty Images Baking powder, garden shears and mirrors are among the items set to get cheaper from 1 January under new tariff plans announced by the government. The Department for International Trade said the new UK Global Tariff is a simpler, more liberal scheme which “backs consumers and business”. Following its departure from the European Union, the UK… Read more →

Coronavirus: Watchdog seeks new powers to fight inflated prices

Image copyright Getty Images Image caption Reports of price-gouging have involved hundreds of businesses, the CMA says The UK’s consumer watchdog has asked the government to bring in emergency laws to stop retailers profiteering during the coronavirus pandemic. The Competition and Markets Authority said it had written to “hundreds of businesses” charging inflated prices for products such as hand sanitisers.… Read more →