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Agriland
2 hours ago
- Business
- Agriland
Global markets now ‘short of beef'
Lanark based-Simmental cattle breeder and former auctioneer, David Lowry, is of the view that beef markets will start to strengthen during the period ahead. Lowry, who judged the cattle classes at this year's Omagh Show, told Agriland: 'We may not get back up to £7/kg but the reality is that the UK and the rest of the world is short of beef at the present time. The Scottish breeder noted that consumers have already shown that they are prepared to pay realistic prices for beef, provided the quality of the meat is is good. He said: 'There has been a haemorrhaging of suckler cow numbers over recent years. This is because farmers were not getting prices for stock that covered their costs. 'And, as a consequence, they either cut cow numbers or got out of sucklers altogether. Thankfully, circumstances are changing, which can allow farmers to look again at suckler production with a degree of confidence.' Lowry is very aware of the growing focus that has been placed on beef from the dairy herd. 'But quality beef will still be required from the suckler sector. And the need to maintain cow numbers in this context is obvious,' Lowry added Irrespective of what happens in the future, Lowry feels that the days of beef farmers receiving rock-bottom prices for their cattle are over. He said: 'Consumers realise the costs required at farm level in making quality beef available. And this factor alone should help to bolster UK markets during the period ahead.' Food inflation Lowry was speaking against the backdrop of food inflation figures starting to notably strengthen once again. According to the UK's Office of National Statistics, the 12-month inflation rate for food and non-alcoholic beverages was 4.5% in June 2025. This was the third consecutive increase in the rate. It is the highest recorded since February 2024, but is well below the peak seen in early 2023. There were small upward effects to the change in the rate from three of the eleven food and non-alcoholic beverages classes: namely bread and cereals (particularly cakes), meat, and milk, cheese and eggs (mainly cheddar cheese). These were partially offset by small downward effects from the sugar, jam, syrups, chocolate and confectionery class (from chocolate products), and mineral waters, soft drinks and juices (from fruit juice). The official figures also confirm that the UK's Consumer Prices Index (CPI) rose by 3.6% in the 12 months to June 2025, up from 3.4% in the 12 months to May. On a monthly basis, CPI rose by 0.3% in June 2025, compared with a rise of 0.1% in June 2024.
North Wales Live
2 days ago
- Business
- North Wales Live
Wales' employment rate is up after fall in sickness levels
Wales has posted a positive set of job and unemployment figures for the last quarter but still lags behind much of the UK. The latest Office of National Statistics employment figures for March to May have been released The country saw its employment rate hit 72.6% - which is up 2.2 percentage points on the previous quarter and up 3.6 percentage points on the year. But it remains below the UK average of 75.2%.- with only the North East, Yorkshire and Humber, and Northern Ireland with a lower figure. Meanwhile the unemployment rate in Wales was 4.4%. This is down 0.4 percentage points on the quarter and up 0.9 percentage points on the year. Wales performs well compared to the overall UK, where the unemployment rate was 4.7%, which was up on the year and the last quarter. In addition there was positive news over economic inactivity in the working age population. These figures include full-time carers or students, and people who are on long-term sick or have taken early retirement. In the years prior to the pandemic it had fallen from over 24% to 21.8% after steady progress to tackle the problem but it spiked during and after Covid hit. This saw it go over 28% in 2024, the worst rate of all UK nations and regions. But the last 12 months has seen the rate fall. In the last quarter the economic inactivity rate in Wales was 23.9%. This is down 2.1 percentage points on the quarter and down 4.5 percentage points on the year. The UK economic inactivity rate remains lower at 21.0%. However Wales has now moved off the bottom and ahead of the North East, Yorkshire and Humber, and Northern Ireland.
Fibre2Fashion
5 days ago
- Business
- Fibre2Fashion
UK clothing-footwear CPI up 0.5% YoY in Jun 2025: ONS
Pic: Sorbis / The UK consumer prices index (CPI) rose by 3.6 per cent year on year (YoY) in June this year—up from 3.4 per cent YoY in May. It rose by 0.3 per cent month on month (MoM) in the month compared with a rise of 0.1 per cent MoM in June 2024, according to the Office of National Statistics (ONS). The rate was above the first (or flash) estimate of inflation for France (0.8 per cent) and Germany (2 per cent) in June 2025. The UK CPI rose by 3.6 per cent YoY in June this yearâ€'up from 3.4 per cent YoY in May. It rose by 0.3 per cent month on month (MoM) in the month compared with a rise of 0.1 per cent MoM in June 2024. The CPI for clothing and footwear increased by 0.5 per cent YoY and decreased by 0.4 per cent MoM in June. Core CPI rose by 3.7 per cent YoY in Juneâ€'up from a 3.5-per cent YoY rise in May. The CPI for clothing and footwear increased by 0.5 per cent YoY and decreased by 0.4 per cent MoM in June this year. Transport, particularly motor fuels, made the largest upward contribution to the monthly change in the UK CPI annual rate, an ONS release said. Core CPI (excluding energy, food, alcohol, and tobacco) rose by 3.7 per cent YoY in June 2025—up from a 3.5-per cent YoY increase in May. The CPI goods annual rate rose from 2 per cent YoY in May this year to 2.4 per cent in June. Fibre2Fashion News Desk (DS)
Scottish Sun
5 days ago
- Business
- Scottish Sun
Amount of unemployed Brits hits four-year HIGH after Rachel Reeves' NI hike as UK in ‘serious jobs recession'
Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) BRITAIN has been plunged into a "serious jobs recession" as unemployment hit a four-year high, the Chancellor has been warned. Rachel Reeves was ordered to turn her Autumn Budget into a pro-growth platform after her £25 billion tax raid on business that kicked in from April. Sign up for Scottish Sun newsletter Sign up Official figures show the numbers on company pay rolls fell by 25,000 in May on the back of 41,000 just last month. But the unemployment rate edged up from 4.6 per cent to 4.7 per cent, according to figures from the Office of National Statistics. Lord Matthew Elliott, of the Jobs Foundation, said: "Today's figures confirm that the UK is now in the midst of a serious jobs recession. "The steepest fall in employment since the pandemic is a serious wake up call to the Government. 'The hike to Employer NICs has had the predicted damaging impact on jobs, and businesses are now worrying about further tax rises to come in the Autumn Budget. He added that Ms Reeves "must deliver a pro-growth, pro-jobs plan in the Autumn Budget'. Shadow Business Secretary Andrew Griffith said that unemployment 'is the only thing growing under Labour'. There will now be mounting pressure on the Bank of England to cut interest rates early next month to help kick-start the sluggish economy. Business are also braced for the new workers' rights package that is going through Parliament that will only add to firms' costs. Government estimates say that business will be hit for a staggering £5 billion as a result of the package that includes day one workers rights and a boost for trade union powers. The Chancellor heads to South Africa today to tell finance chiefs at the G20 that Britain is a "beacon of stability". It comes after her Mansion House speech this week where she called for red tape to be ripped up to help the City. But in recent months Britain has been hit by a shrinking economy and caught up in the global tariff war triggered by US President Donald Trump. Economy woes continued for Ministers as Jaguar Land Rover revealed that they were making 500 managers redundant as part of a voluntary scheme. Neil Carberry, of the Recruitment and Employment Confederation, said the Chancellor must be reassured that there will be no more punishing taxes this Autumn in the Budget. He warned: "If Government can increase businesses' and families' willingness to spend for the future, we would likely see a positive trend in both the labour market and the wider economy. "A reduction in the interest rate next month will help with that but so will reassuring firms that they don't face another swingeing tax raid in the Budget, and fixing the impracticalities in the Employment Rights Bill – a piece of legislation that is not yet suited to the modern workplace."
Daily Record
03-07-2025
- Business
- Daily Record
Average monthly rent for private Dumfries and Galloway properties soars in two years
Despite the 'sharp' rise, the region still has the lowest average monthly rent in the UK. The average monthly rent for private properties in Dumfries and Galloway has soared in the last two years. But the region also has the lowest rent in the whole of the UK. The figures were revealed by the Office of National Statistics in their latest update on private rent and house prices. In June 2023, the average monthly rent in Dumfries and Galloway for a private property was £423 – just a slight increase on the £412 tenants were paying at the start of 2015. However, by June 2024 the figure had hit £481 and hit a high of £528 in March this year. By May it had dipped slightly to £524. The report notes: 'Average rent in Dumfries and Galloway rose sharply in winter 2024, before falling between March 2025 and May 2025.' Despite that, the region had the lowest average rent in the whole of the UK. The highest was £3,643 a month in the London boroughs of Kensington and Chelsea. Outwith London, tenants in Elmbridge in south east England paid the most at £1,868. The report stated: 'Average rent was more than six times higher in the most expensive local area than in the least expensive.' Average rent in the UK was £1,339, with the Scottish average £999. Join the Daily Record WhatsApp community! Get the latest news sent straight to your messages by joining our WhatsApp community today. You'll receive daily updates on breaking news as well as the top headlines across Scotland. No one will be able to see who is signed up and no one can send messages except the Daily Record team. All you have to do is click here if you're on mobile, select 'Join Community' and you're in! If you're on a desktop, simply scan the QR code above with your phone and click 'Join Community'. We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don't like our community, you can check out any time you like. To leave our community click on the name at the top of your screen and choose 'exit group'. That was £43 – or 4.5 per cent – more than May 2025 The report advises: 'Scotland rents data are mainly for advertised new lets, with only a small proportion based on existing lets data. Price changes for existing tenancies are therefore largely estimated for Scotland.'
