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Recent data shows UK consumer spending slowed in December amid economic uncertainty and upcoming tax increases. Retail sales growth remains subdued, with online sales rising but overall confidence low. Black Friday saw strong online activity, but shoppers remain wary of the economic outlook.
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The UK’s new extended producer responsibility (EPR) scheme, requiring firms to report packaging data by October 1, is expected to impose significant costs on retailers and households. Industry warns it will increase prices, add to inflation, and burden businesses with administrative costs, amid ongoing economic pressures.
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UK retail sales increased by 2.3% in September, a slowdown influenced by inflation, milder weather, and economic uncertainty ahead of the November budget. Consumer confidence remains high, but cautious spending persists amid fears of tax hikes and economic pressures.
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UK food prices fell 0.4% in October, the largest decline since late 2020, driven by lower sugar costs. Overall shop prices decreased 0.3%, with discounts in electricals and health and beauty. Food inflation remains high, especially for fresh foods, but non-food prices are now slightly lower than a year ago.
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The US and UK are ending or delaying exemptions on low-value imports, impacting consumers and retailers. The US ended its de minimis exemption in August, raising duties on packages over $800, while the UK plans to phase out its exemption by 2029, causing disruptions for small businesses and shoppers.