UK CPI – 18/10– the Bank of England caught a lot of people on the wrong foot when they decided by a narrow majority to keep interest rates unchanged at 5.25% last month. One of the reasons why they decided to call a halt to 14 successive rate rises may well have been the sharp slowdown in core CPI that we saw in data released the day before the announcement. In September, core CPI slowed from 6.9% to 6.2% while headline CPI slipped to 6.7% when most people had been expecting an increase.
In H1 Deliveroo reported a 5% increase in revenues to just over £1bn, despite a 6% decline in orders. Despite lower orders Deliveroo managed to deliver a 10% improvement in GTV per order to £24.20, while boosting gross profit to £365.1m. Losses narrowed to £82.9m from £153.8m a year ago.