THE RETAIL BULLETIN - The home of retail news
Click here
Home Page
News Categories
Commentary
Department Stores
Electricals and Tech
Entertainment
Fashion
Food and Drink
General Merchandise
Grocery
Health and Beauty
Home and DIY
Interviews
People Matter
Retail Business Strategy
Property
Retail Solutions
Electricals & Technology
Sports and Leisure
Christmas Ads
Shopping Centres, High Streets & Retail Parks
Retail Events
People in Retail Awards 2024
Retail HR Central 2024
The Future of The High Street 2024
Retail HR Summit
THE Retail Conference
Upcoming Retail Events
Past Retail Events
Retail Insights
Retail Solutions
Advertise
About
Contact
Subscribe for free
Terms and Policies
Privacy Policy
UK inflation stays at 2.7% in September while retail price inflation is 3.2%

The UK inflation rate remained at 2.7% in September as petrol and diesel prices fell only to be offset by upward pressure from air fares. The… View Article

GENERAL MERCHANDISE NEWS

UK inflation stays at 2.7% in September while retail price inflation is 3.2%

The UK inflation rate remained at 2.7% in September as petrol and diesel prices fell only to be offset by upward pressure from air fares.

The figures released by the Office for National Statistics in its Consumer Prices Index show that inflation stayed the same as in August, when it fell from 2.8% in July.

The retail prices index measure of inflation dropped slightly to 3.2% from 3.3% in August. The British Retail Consortium said the month’s figure would be used to calculate next year’s increase in the business rates with new analysis showing that retailers will pay £3.44 in business rates for every £1 they pay in corporation tax in 2014 compared to £2.48 in 2005.

Helen Dickinson, BRC director general, said: “Across the country today, retailers are adding up what this increase in the RPI will mean for the cost of their business rates next year. Many will be wondering whether they will be able to stay open.

“At the BRC we have spoken to retailers who will be forced to close shops because of the increase and many that have decided not to open new ones. This tax increase is likely to cost communities across the country 19,670 full time jobs. It is clear that the business rates system is no longer fit-for-purpose. It requires complete reform.”

Subscribe For Retail News