Greggs flags profits dip amid hotter costs and easing inflation hope; bakery giant from Newcastle, famous for sausage rolls and on-the-go bites. #Greggs #RetailNews
The Middle East conflict has pushed up fuel, fertiliser and packaging costs, feeding higher food prices globally. Retailers warn inflation is likely to continue if the war persists, while farmers face rising input costs and potential production cuts.
Major UK retailers have written to the prime minister, coordinated by the British Retail Consortium, urging a review of policies on national insurance, the national living wage, and employment rights to boost youth employment. The move follows Neets data showing over one million 16-24-year-olds not in work or education. Government is rolling out a youth employment package and new payments to support entry-level hiring.