LONDON: Food prices and overall shop prices inflation in the UK picked up in December 2025, according to the British Retail Consortium (BRC), as retailers faced rising costs. Annual shop price inflation rose to 0.7%, slightly above November’s 0.6% increase, while food inflation climbed to 3.3% from 3.0% the previous month. Prices of non-food items […]
Rachel Reeves
UK consumer borrowing jumps to highest in two years
UK consumer borrowing surged in November, marking the largest increase in two years, according to Bank of England data released Monday. Households added a net £2.08 billion ($2.79 billion) in borrowing, surpassing forecasts and October’s £1.713 billion rise. The annual growth rate of consumer credit reached 8.1%, the fastest since May 2024, signaling strong household […]
UK to end tariff exemption on low-value imports
LONDON: The UK finance ministry announced on Friday that Finance Minister Rachel Reeves plans to raise around 500 million pounds ($655 million) annually by removing the tariff exemption on imported goods priced below 135 pounds. The measure will be unveiled in her budget on November 26. Read More: China imposes 34% tariffs on U.S. goods starting april […]