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The UK's retail prices rose 4.1% year over year in March, following a 3.6% increase in February, data from the Office for National Statistics showed Wednesday.The reading is above market expectations of a 3.9% growth.On a monthly basis, the index was 0.8% higher, against the prior 0.4% increase and the expected 0.7% gain.
Producer input prices in the UK increased 5.4% year over year in March, following a revised 0.7% gain in February, data from the Office for National Statistics showed Wednesday.Meanwhile, producer output or factory gate prices jumped 2.6% annually, against the revised 1.8% rise earlier.On a monthly basis, producer input prices climbed 4.4% in March, compared with the revised 0.9% increase previously and the forecast of a 2.8% gain. Monthly factory gate prices edged up 0.9%, versus a 0.5% decline earlier and a projected 1% growth.
Britain's annual inflation rate climbed to 3.3% in March from 3% in February, according to data from the Office for National Statistics published Wednesday.The latest reading aligned with consensus estimates.On a monthly basis, consumer prices were 0.7% higher, compared with the 0.4% gain earlier and the market forecast of 0.6% growth.Meanwhile, the UK's annual core inflation rate was 3.1%, compared with the prior and expected 3.2%. Month over month, core consumer prices gained 0.4%, against the previous reading of 0.6% increase and the consensus estimate of a 0.5% rise.
The UK government implemented a comprehensive overhaul of the Office of Gas and Electricity Markets, or Ofgem, to boost the regulator's capabilities to protect consumers.According to a Wednesday public notice, the reforms marked the first major update in the energy regulator's mandate since it was established in the year 2000.The overhaul gave the regulator new powers, including the capability to directly enforce consumer law, measures to ban energy company bonuses if they break the rules, and streamline its remit to increase focus on economic and consumer protection.
London's FTSE 100 closed Tuesday trading 1.05% in the red as the US and Iran's two-week ceasefire nears its expiration on Wednesday evening Eastern time.US President Donald Trump said he does not want to extend the ceasefire deadline and expects "to be bombing" if the two sides fail to reach a deal, according to a phone interview on CNBC's Squawk Box.In economic news back home, Britain's unemployment rate stood at 4.9% in the three months to February, according to data from the Office for National Statistics. Analysts expected unemployment to remain stable at 5.2%. Meanwhile, wage growth slowed to 3.8% from a revised 4.1% including bonuses and to 3.6% from 3.8% excluding them, slightly above forecasts of 3.6% and 3.5%, respectively."The Bank of England's (BoE's) preferred measure of pay growth slowed to the pace it believes is consistent with CPI inflation meeting the 2% target," Berenberg said. "Taking the official and survey data in the round, our view is that the jobs market stabilised. However, forward looking indicators flag a risk of further deterioration. In either case, few job vacancies relative to the number of people looking for work should prevent a rise in energy prices from setting off a new price-wage spiral."At Downing Street, long‑term fixed‑price contracts for renewables were proposed alongside increased taxation on excess revenues generated from electricity production to sever the link between international gas prices and electricity rates across the UK. "Our focus is simple: easing pressure on household budgets now, while building a homegrown energy system that protects families from global instability in the years ahead," UK Prime Minister Keir Starmer said.In corporate news, Associated British Foods (ABF.L) dropped 2.68% as it plans to demerge its fast-fashion retail business, Primark, from its FoodCo business and list them as separate entities."ABF reported their H1-26 results today and, as we expected, will demerge Primark (which will be completed by Sep-27). This is a good decision in the long-term but which will not create short-term value on our estimates," Bernstein said. "The business remains weak across the board with profits declining -17% YoY and margins compressing -150 [basis points], driven by weakness in Primark, grocery and sugar. Vs. consensus, revenue was broadly in line (-0.5%) but EBIT missed by -5% (driven by grocery) whilst Primark margins were a little stronger (+20bps beat but this included a non-recurring benefit, which if excluded, leads to a margin miss)."On the upside, data and technology company Experian (EXPN.L) climbed 2.34%, taking a spot among the top performers on the blue-chip index, after appointing Adam Crozier as its chair designate, effective May 12.
Unemployment benefits claims in the UK rose by 26,849 in March, after a revised increase of 17,100 in the prior month, data from the Office for National Statistics showed Tuesday.The consensus estimate for the month indicated growth of 21,400 in unemployment benefit claims.
Britain's unemployment rate stood at 4.9% in the three months to February, down from 5.2% in the prior three-month period, according to data from the Office for National Statistics published Tuesday.Analysts expected unemployment to remain stable at 5.2%.Meanwhile, the UK employment rate was 75% during the quarter to February.
Britain's average weekly pay, including bonuses, increased 3.8% year over year in the quarter to February, following a revised 4.1% jump in the prior three-month period, the Office for National Statistics said Tuesday.The latest reading is above the consensus estimate of a 3.6% growth.Excluding bonuses, the growth in average weekly earnings was 3.6%, against the 3.8% earlier and the expected 3.5%.
British equities began the new week lower, with the FTSE 100 closing 0.59% in the red on Monday, as escalating tensions between the US and Iran depressed global markets and dampened the prospects of further peace talks."The Middle East conflict escalated early this morning as the US intercepted an Iranian cargo ship trying to breach its maritime blockade, prompting Iran to vow retaliation. The prospects for a second round of negotiations remain uncertain ahead of the ceasefire's expiration on Tuesday, with Iran refusing to participate unless the blockade is lifted," Danske Bank said.In the UK, consumer confidence weakened further in April as households' inflation worries grew due to the ongoing war in the Middle East and rising expectations about monetary policy tightening from the Bank of England. The S&P Global UK Consumer Sentiment Index fell to a 33-month low of 42.3 in April from 44.1 in March, according to a survey by S&P Global.Next, investors will assess labor data on Tuesday, inflation on Wednesday, S&P Global PMIs on Thursday, and retail sales on Friday. "Headline inflation should rise from 3.0% in February to 3.3% in March due to higher energy prices. In turn, core inflation is likely to move up from 3.2% to 3.3% with services inflation rising from 4.3% to 4.4% and core goods flat at 1.3%. We expect the unemployment rate to be flat at 5.2% in the three months to February with an 80K increase in 3m/3m employment," BofA Global Research said.In corporate news, Tesco (TSCO.L) gained 1.62% to the FTSE 100's top risers list as Deutsche Bank Research raised the retail giant's price target to 5.25 pounds sterling from 5 pounds, with a buy rating."Tesco delivered another profit beat in FY26 but set out a cautious outlook for FY27, underlining an intention to defend value amid macro uncertainty. We view this as conservative (DBe at the upper end of the profit range). While there are risks to the UK consumer and inflation, Tesco is well placed to navigate this supported by its defensive profile, strong competitive position, incremental profit streams to drive price re-investment, and a track record of over-delivering," analysts said.On the contrary, Deutsche Bank reduced the price target for Barratt Redrow (BTRW.L) to 3.66 pounds from 4.54 pounds, with a buy rating. The residential property developer was down 4.37% to become one of the worst performers on the blue-chip index."Barratt's Q3 update showed a resilient sales rate, marginally up y/y - supported by competitive pricing and incentives, and so far unaffected by the Middle East war and higher mortgage rates. Whilst demand could yet be impacted, a greater certainty is that cost inflation will rise, and we are already seeing evidence of this. To reflect this and the possibility that a weaker year-end order book will inhibit volume growth in FY27, we reduce our [pretax profit] forecasts by 3/18/18% for FY26/27/28 - albeit acknowledge there is a wide range of potential outcomes," analysts said.
Consumer confidence in the UK further weakened in April as households' inflation worries grew amid geopolitical uncertainty due to the ongoing war in the Middle East and rising expectations that the Bank of England would tighten its monetary policy.The S&P Global UK Consumer Sentiment Index fell to a 33-month low of 42.3 in April from 44.1 in March, according to a survey by S&P Global released Monday.Sentiment regarding households' financial well-being over the next 12 months stood at its most downbeat since July 2023. UK consumers also took on more debt in April 2026, with debt levels reaching a two-month high.
London's FTSE 100 closed the trading week 0.73% higher on Friday amid renewed optimism over the resolution of the Middle East conflict as a 10-day ceasefire agreement between Israel and Lebanon takes effect."The fragile ceasefire between Israel and Lebanon removes one key obstacle for the US-Iran talks. However, a number of issues remain, not least Iran's nuclear program and the control of the Strait of Hormuz," Danske Bank said in a note. "We expect the ceasefire to be extended over the weekend, but as European and Gulf officials warned yesterday, we think a more permanent deal will take months."With the agreement in place, Iranian Foreign Minister Abbas Araghchi said in a social media post on X that the Strait of Hormuz is "declared completely open" for all commercial vessels "for the remaining period of ceasefire."The UK economic calendar was quiet for the day. Looking ahead, next week will see the release of several private sector and economy-related data, including the March British inflation figures.On the corporate side, Fitch affirmed Kingfisher plc's (KGF.L) BBB long-term issuer default rating, with a stable outlook, mainly reflecting its leading position in the home improvement retail market and expectations that the company's credit metrics will remain in line with its rating. The stock was up 2.39% at closing.Meanwhile, oil and gas giants BP (BP.L) and Shell (SHEL.L) were among the blue-chip index's top fallers, logging respective declines of 7.36% and 5.57% at the end of the trading session.
The UK's FTSE 100 rallied 0.29% on Thursday's close after government data showed better-than-expected economic growth in February, while the US blockade of Iranian ports continues as the Trump administration seeks a peace agreement with Iran.The UK's gross domestic product expanded 0.5% month over month in February, following a revised 0.1% growth in January, the Office for National Statistics said. The reading beat market expectations for a 0.1% uptick."The large upside surprise to GDP growth in February will reignite concerns about residual seasonality in the GDP statistics, but nonetheless confirms that the economy made a good start to the year," Berenberg said. "On an annual basis, growth picked up from 0.7% yoy to 1.0% yoy as a strong February made up for a disappointing end to 2025. Sadly, the start of the Iran war on 28 February will stop the upswing in its tracks."In corporate news, Entain (ENT.L) climbed 6.02% to become one of the top risers on the blue-chip index after reiterating its 2026 guidance for online net gaming revenue to rise between 5% and 7% on a constant currency basis. The sports betting and gaming company's net gaming revenue rose 3% for the first quarter, with online net gaming revenue rising 5% and retail net gaming revenue down 3%."Our strong and resilient business has started the year well, and we continue to build on this momentum. Our sharper focus and optimisation initiatives reinforce our conviction in delivering sustainable growth and improving cash generation. Entain remains well positioned to be a long-term industry winner, seizing the many opportunities ahead, and I am confident in our future," Chief Executive Officer Stella David said.On the flip side, Rentokil Initial (RTO.L) fell 0.82% at closing. The pest control and hygiene services company logged a 4.3% yearly rise in first-quarter revenue while projecting full-year performance in line with market expectations."Q1 organic growth was slightly ahead at 3.4% (vs our forecast of 3.0%)," RBC Capital Markets said. "Within that US Pest Control Services growth was 2.8% - slightly better than Q4's 2.6%, despite the tough weather in Jan. This was partly offset by weaker growth in International, due to tough Pacific [comparables] and Middle East impacts."
(Corrects reference to the analyst expectations in the second paragraph)The UK's gross domestic product expanded 0.5% month over month in February, following a revised 0.1% growth in January, the Office for National Statistics said Thursday.The reading compares with analysts' expectations of a 0.1% increase for the month.On a yearly basis, the British economy grew 1%, against the prior revised 0.7% increase and the market forecast of a 0.6% jump.
The UK recorded a higher-than-expected gross domestic product growth in February, supported by higher month-over-month output in the services, production, and construction industries.The country's monthly real GDP rose 0.5% in February, following an upwardly revised 0.1% growth in January, according to data from the Office for National Statistics published Thursday. The latest figure came in above the consensus estimate of a 0.1% uptick.Annually, the British economy expanded by 1%, against the revised 0.7% gain and the expected 0.6% rise. In the quarter to February 2026, UK GDP edged up 0.5%, compared with the three months ended November 2025, mainly driven by broad-based growth in the services sector."Within services, growth was driven by wholesaling, market research, hospitality, and publishing, which all performed well in the three months to February. Meanwhile car production recovered from the effects of the autumn cyber incident," ONS Chief Economist Grant Fitzner said. "Growth in services and production was partially offset by another fall in construction, albeit at a slower rate than previously, with leasing and intellectual property licensing also continuing to contract."ONS data showed that monthly output in the services and production sectors both grew 0.5% in February, after a revised 0.1% gain and a 0.1% decline in January, respectively. Meanwhile, the construction industry saw a 1% increase in output, following a revised increase of 0.5% previously."UK output surged in February, but it's in line with a trend dating back to 2022, where growth is stronger in the first quarter than across the rest of the year. We're taking this latest data with a pinch of salt," ING said, noting that the apparent increase looks "too good to be true" and the outlook for the British economy points to a slowdown amid the ongoing war in the Middle East. "Growth is likely to slow regardless into the summer as inflation rises towards 4% beyond July."The research firm added that it remains unconvinced that the Bank of England will increase its key rate in 2026 amid higher energy prices and expectations of a decline in real wages."It's a close call, which becomes closer still if the disruption hasn't materially improved by the time of the June meeting. But for now, we're looking for rates to stay unchanged at 3.75% throughout 2026," ING said.The BoE is scheduled to hold its next monetary policy meeting on April 30.
Britain's services output edged up 0.5% month over month in February, following a revised 0.1% uptick in January, according to data from the Office for National Statistics published Thursday.On a yearly basis, the index was 1.4% higher, against the revised 1% jump earlier.
Construction output in the UK increased 1% month over month in February, following a revised 0.5% gain in the previous month, the Office for National Statistics said Thursday.Analysts expected a 0.4% decline for the month, according to Investing.com data.On a yearly basis, construction output was 1% lower, against the revised 1.9% drop earlier and the market forecast from Investing.com of 0.4% decrease.
Britain's goods and services trade deficit fell by 300 million pounds sterling to 2.8 billion pounds in the three months to February, the Office for National Statistics said Thursday.The UK's goods trade deficit increased by 1 billion pounds to 57.1 billion pounds, while the services trade surplus grew by 1.3 billion pounds to 54.2 billion pounds.
The UK's monthly manufacturing production was down 0.1% in February, following a revised 0.2% uptick in the prior month, the Office for National Statistics said Thursday.Analysts expected a 0.3% gain for the month.On a yearly basis, British manufacturing output fell 0.5%, compared with the 1.3% jump earlier and the consensus estimate of a 0.3% dip.
UK industrial production rose 0.5% month over month in February, following a 0.1% drop in January, the Office for National Statistics said Thursday.Analysts expected a 0.2% growth for the month.On a yearly basis, UK industrial output was 0.4% lower, against the revised 0.5% increase earlier and the consensus estimate of a 0.9% fall.
The UK's gross domestic product expanded 0.5% month over month in February, following a revised 0.1% growth in January, the Office for National Statistics said Thursday.The reading is consistent with analysts' expectations for the month.On a yearly basis, the British economy grew 1%, against the prior revised 0.7% increase and the market forecast of a 0.6% jump.
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