Surging meat and tea prices drive food price inflation up for sixth month

Surging meat and tea prices sent food price inflation up for the sixth consecutive month in July, latest figures show.

Food prices are now 4% higher than a year ago, up from 3.7% in June and the three-month average of 3.5%, according to the British Retail Consortium (BRC)-NIQ Shop Price Monitor.

Fresh food inflation held steady at 3.2%, but ambient food prices jumped to 5.1% higher than last June, up from last month’s 4.3%. Overall shop price inflation increased to 0.7% from June’s 0.4% in June, and up from from the three-month average of 0.3%.

Almost 50,000 firms near collapse amid ‘immense strain’ from tax hike – report

Nearly 50,000 UK companies are on the brink of collapse with retailers and hospitality firms among the hardest hit as rising wage costs due to budget measures put small firms under ‘immense strain’, according to a report.

The latest Begbies Traynor red flag alert found that firms in critical financial distress rose by more than a fifth – 21.4% – year-on-year to 49,309 in the second quarter.

Consumer-facing industries saw some of the most ‘extreme’ rises in critical financial distress, with a 41.7% surge among bars and restaurants, a 39% leap for travel and tourism and 17.8% jump for general retailers.

Citroen prices up C5 and e-C5 Aircross

Citroen has revealed prices and specifications for the new C5 and e-C5 Aircross.

From launch, there will be a choice of a petrol-electric hybrid variant, plus an electric version fitted with a 73kWh battery and electric motor, which offers a claimed range of up to 322 miles. Later on, there will be plug-in hybrids and a 97kWh electric version.

Prices start at £30,495 for the You! and rise to £35,775 for the Max. Deliveries commence in October.

The markets

The FTSE 100 gave up early gains to close lower on Monday as an initial positive reaction to the EU-US trade deal was followed by caution ahead of a pivotal week of data, earnings and central bank meetings.

The FTSE 100 index closed down 38.87 points, 0.4%, at 9,081.44. The index had traded as high as 9,169.01. The FTSE 250 closed 166.18 points lower, 0.8%, at 21,951.80, and the AIM All-Share closed down 3.62 points, 0.5%, at 773.02.

The pound eased to 1.3403 dollars late on Monday afternoon in London, compared with 1.3437 dollars at the equities close on Friday.

Starmer shares UK-led Gaza peace plans with Trump

Sir Keir Starmer has presented a UK-led peace plan for the Middle East to Donald Trump as he met the US president in Scotland.

The prime minister started work on a plan with France and Germany over the weekend after an emergency call with the two countries’ leaders, Emmanuel Macron and Friedrich Merz.

His official spokesman had said earlier that he planned to share details with key allies, including Arab states, in the coming days.

Thousands set to descend on London as Lionesses’ Euros celebrations continue

Thousands of fans are expected to descend on central London as celebrations for England’s historic European Championships victory continue with an open-top bus procession on Tuesday.

Supporters cheered with joy across the country as the team defended their Euros title with a penalty shootout win over Spain in the final in Basel, Switzerland, on Sunday.

The revelry is set to continue when the Lionesses and their head coach Sarina Wiegman make their way along the Mall near Buckingham Palace on the bus just after midday, with thousands of fans set to line the road to join in the celebrations.

Monday on Car Dealer

Waddell saga takes fresh turn as Freshstream makes £950,000 offer to Big Motoring World founder

Former Big Motoring World boss Peter Waddell is embroiled in a legal battle with investor Freshstream after his ousting over misconduct claims. He alleges unfair dismissal and financial loss. Freshstream denies wrongdoing, offering €1.1m to settle, but a High Court trial looms in 2026.

Government’s Electric Car Grant is supercharging interest in new EVs – Auto Trader

Consumer interest in EVs under £37,000 doubled after the UK’s Electric Car Grant announcement, Auto Trader reports. New car searches rose 17% year-on-year in July. MG topped electric brand demand, while the Range Rover Sport and BMW led overall model and brand popularity, respectively.

Hyundai latches on to electric ‘grant’ savings by slashing EV prices across the board

Hyundai has launched its own EV savings initiative, offering up to £3,750 off select models like the Inster and Kona Electric. The move pre-empts the UK’s official Electric Car Grant, aiming to sustain EV sales as buyers await government scheme details.

Dealer group Perrys expands operations with new Peugeot dealership in Canterbury

Perrys has launched a new Peugeot dealership in Canterbury, Kent, taking over a former Marshall’s site. The move adds to its existing Vauxhall and Mazda franchises and includes key Peugeot staff. The dealership offers full servicing, parts, smart repairs, and aligns with Perrys’ strategic growth and customer experience goals.

Brayley Nissan scrubs up in support of local cleaning firm going green

We Clean, a Birmingham-based commercial cleaning firm, has expanded its sustainable fleet with 13 Nissan vehicles, including 10 electric models, via Brayley Nissan. This supports its ‘We Clean Green’ initiative, aligned with ISO 14001, to reduce emissions and promote eco-friendly operations across the Midlands.

Automotive charity Ben offers school summer holiday support scheme

The motor industry benevolent fund, Ben, is raising awareness of the financial support it offers to those in need over the summer holiday period, as many automotive industry employees struggle with financial hardship.

Weather

Today will begin mostly cloudy with light rain across central and southern areas. Rain will ease by afternoon, with sunshine and scattered showers in the south-west, reports BBC Weather.

Tonight brings widespread cloud, occasional clear spells in the south-west, and isolated showers possible throughout the UK.

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