Here's a quick look at some of the latest business and economic headlines coming out of the UK, covering everything from mortgages to munchies.
Mortgage Brokers Predict Rate Hikes
Despite some recent cuts, a new study reveals that nearly 70% of UK mortgage brokers anticipate interest rates will increase from their current levels by the beginning of next year. This comes as a surprise to some, given the recent fluctuations in the market. What does this mean for homeowners and potential buyers? It's certainly something to keep an eye on.
“The market is always in flux,” says one financial analyst. “These predictions highlight the uncertainty that exists, and consumers should be prepared for potential changes.”
Snacking Habits Shift Post-Pandemic
Remember the days of lockdown snacking? Well, it seems those habits are changing. Britons are snacking less at home, with a 15% decrease in snacking occasions in 2024 compared to 2020, according to retail market analysts Kantar. Not only are people snacking less, but they're also opting for healthier choices.
Out with the biscuits, popcorn, and chocolate, and in with the rice cakes, apples, and halloumi! Tighter budgets and a focus on healthier lifestyles seem to be driving this trend. Even including snacks on the go, overall snacking is down about 2% compared to the pandemic peak.
Royal Mail Raises Stamp Prices (Again!)
Prepare for another price increase from Royal Mail. For the sixth time in just over three years, the cost of stamps is going up. Effective April 7th, a first-class stamp will cost £1.70 (a 5p increase), while a second-class stamp will rise to 87p (a 2p increase). This continuous increase in postal costs is impacting both consumers and businesses alike.
Which Supermarket is the Cheapest?
Looking to save some money on your grocery bill? Which? has released new research revealing the UK's most and least expensive supermarkets. And surprisingly, it's *not* Lidl. The research ranks supermarkets based on pricing, so you can see where your favorite one stands and make informed choices about where to shop.
Stay tuned for more updates on these and other developing economic stories in the UK!