Finance
News
Prices Creep Upwards
The Government’s latest Index Retail numbers make for interesting reading. They show the cost of living continued its upward trend, with the Retail Price Index (RPI) rising to 193.01 on 1 January 2025, up from 192.06 just three months earlier. This represents an increase of 0.5% over the quarter and an increase of 2.4% over the year.
Why it matters
The RPI measures the change in the cost of a fixed basket of goods and services, reflecting how price changes affect consumers and businesses alike. These figures are a key indicator for setting wages, pensions, and strategic business decisions. Inflation may be slowing, but it’s still rising — and likely affecting our members in different ways.
What are the figures?
Between 1 October 2024 and 1 January 2025, most categories saw price rises:What changed?
Transport & Vehicles: ↑ 0.05% (199.11 → 199.21)
Food: ↑ 0.65% (244.99 → 246.59)
Alcohol & Tobacco: ↑ 5.91% (276.63 → 293.01)
Clothing & Footwear: ↓ 1.53% (106.08 → 104.46)
Durable Household Goods: ↑ 0.19% (139.63 → 139.89)
Housing: ↑ 0.38% (156.17 → 156.76)
Services: ↑ 0.47% (221.14 → 222.19)
Other Goods: ↑ 0.05% (164.45 → 164.54)
The bottom line
The steepest rise came from alcohol and tobacco — a 5.91% quarterly jump. Meanwhile, clothing saw a dip. Businesses may be facing pressure from rising input costs, while consumers are feeling the pinch in everyday spending.
Are these changes affecting your business?
Join the conversation now in the GFSB Glue Up community. We want to hear your views.
SHARE THIS
OTHER NEWS
Do Better Business
War-Game Your Business
Governments and geopolitical strategists use simulations to test what might happen when other players react. The same thinking can help businesses challenge assumptions, anticipate competitors and prepare for decisions before real money is on the line.
Finance
Fintech
Treaty
Diversification Goes Global
From Hong Kong to Abu Dhabi, Gibraltar is pursuing new industries and investors as part of a major economic diversification drive. Minister Nigel Feetham says the campaign is already generating business. The bigger question is how far those opportunities can spread through Gibraltar’s wider economy.
Treaty
New Residency Route
Gibraltar plans a new residency route for financially independent over-55s alongside a new business think tank announced at GibLink London.
Treaty
Frontier in Flow?
New frontier lanes and discussions around a cross-border transport interchange raise questions about buses, workers, visitors and business connectivity.
Treaty
Easier British Imports?
Could a future UK-EU food agreement make it easier for British produce to return to Gibraltar shelves? British produce has long been part of Gibraltar’s shopping experience; I wrote about it a couple of years ago, before we had a Treaty in place. From supermarket staples and fresh food to familiar household brands, we’ve spent […]