first_img Tags: NULL Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comUndoOpulent ExpressHer Quadruplets Were Born Without A Hitch. Then Doctors Realized SomethingOpulent ExpressUndoElite HeraldKate Middleton Dropped An Unexpected Baby BombshellElite HeraldUndoTrading BlvdThis Picture of Prince Harry & Father at The Same Age Will Shock YouTrading BlvdUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoBetterBeDrones Capture Images No One Was Suppose to SeeBetterBeUndo Show Comments ▼ whatsapp SHOP price inflation accelerated in August at its fastest rate since February 1992, the CBI revealed yesterday, raising the ugly spectre of persistently rising prices and creating even more of a headache for the Bank of England.In its August distributive trades survey, the business lobby reported that a net 58 per cent of firms said average selling prices had risen compared to a year ago. The looming VAT hike to 20 per cent in January, combined with rising food prices, will only create more inflationary pressures.While the outlook for consumer spending remains uncertain, retailers are at their most positive about the future since May 2004, with a net 22 per cent of firms forecasting that the overall business situation will improve over the next three months.More than half of the retailers surveyed said that the volume of sales rose during the first two weeks of August, compared to just 18 per cent experiencing a decline.Sub-sectors that saw the strongest growth included clothing, grocers, and durable household goods, which the CBI said has been helped by better weather at the beginning of the month and the summer holidays.Lai Wah Co, CBI head of economic analysis, said: “Better sales growth continued on the high street in early August, and retailers are upbeat about prospects in the coming three months.” “However, the broader outlook for consumer spending is still uncertain, given the VAT rise next year, subdued pay awards and the feed-through of public spending cuts to job losses, ” she added.Analysts said that this boded well for third quarter GDP growth, which had been expected to slump after a stunning second quarter. Societe Generale’s Brian Hilliard said that yesterday’s CBI data pointed to further strong consumption growth in the three months to October. KCS-content center_img whatsapp Thursday 26 August 2010 8:50 pm More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comKiller drone ‘hunted down a human target’ without being told tonypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comWhy people are finding dryer sheets in their Share Selling prices accelerate at a record pace last_img