Shop sales calm inflation fears

INFLATION fears were further eased yesterday as official figures showed that high street sales remained flat last month.

The Office for National Statistics (ONS) reported that retail sales volumes in July were unchanged on the month to stand four per cent higher than a year ago.

The weaker than expected figures, following data earlier this week showing a sharp fall in earnings growth and softer than expected inflation, will strengthen calls from industry for the Bank of England to leave interest rates on hold. However the minutes of the latest meeting of the Bank's Monetary Policy Committee - which sets interest rates - showed members were still concerned about price pressures.

NEW PENSIONS: With employer registration for stakeholder pensions beginning on October 1 this year, a market research survey of small to medium-sized business has found that almost half of employers in the North-East still do not know anything about the new legislation. And, despite the fact that all of the businesses interviewed in the survey will have to offer stakeholder pensions to their staff by October 8, 2001, only 49 per cent say they intend to do so. The study was carried out by Britannic Assurance.

SUPPORTING EXCELLENCE:

Graham Hall, chairman of regional development agency Yorkshire Forward, has given his support to Excellence Yorkshire, an initiative which aims to increase regional competitiveness through improving what organisations do. Excellence Yorkshire's short-term vision is to create and deliver a successful quality award by autumn 2001.