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90% of the jewellery that we sell is made using brass metal as the base metal. and brass has in itself as a raw material increased 33% in the last seven, eight months. and that s a significant increase in our product costs. rising prices and rising interest rates to control them have been weighing on the economy. new figures from the office for national statistics show zero growth in february. some sectors of the economy have been performing better than others. the 0ns says that sales in shops, for example, have been pretty buoyant, especially in discount stores, and the construction sector too that s been building up momentum. but those benefits were offset by strikes among teachers and civil servants which weighed down on growth. and while shops may be getting busier and selling more, they are not necessarily making more money. ....
Surprise, but the 0ns that monitors these things, the office of national statistics, says alcohol prices, they will surprise, that went up. and when you strip out, food and alcohol also went up. some reaction from uk chancellorjeremy hunt, saying these falls in inflation we were all expecting are not inevitable. inevitable. what are the implications inevitable. what are the implications for - inevitable. what are the implications for interest j inevitable. what are the - implications for interest rates? this, because, interest rates brought in to control the cost of living when the cost of living is getting too high. we ve seen the bank of england raised interest rates from .1% to 4% over 1a months. huge rises. this of course as to the pressure to control rising prices. we weren t sure whether the uk, when they announce these figures on thursday, we do this because the backdrop to this in the last two weeks is of these two banking failures in america, and that has caused a huge conc ....
Soon be fixed. as you are probably aware, in the last quarter of last year, so the three months to december, output was basically flat in the uk, so as currently estimated by the 0ns, we just avoided what many will call every session. that is three consecutive quarters of contraction. so, trying to look at a half full glass, if we can make some progress on resolving those strikes and moving forward, it is a slightly more positive start this year. let s, as you say, take a glass half full position, shall we, this morning, why not? and let s assume that this is possible the prime minister will be able to end what is the worst wave of strikes to hit the uk in decades, with this deal of backdating the wage offer. if that rate comes off, what are we left with? 50. ....
So what are the main factors behind last year s figures? emergency care doctors say it s partly down to ambulance delays and long waits in a&e harming patients. and the cancellations of many operations, checks and appointments during lockdowns could well have stored up health problems resulting in more deaths last year. we know that there were a lot of people who would ordinarily have received diagnoses, particularly cardiovascular, because these things play out quite quickly, during the pandemic, that missed them. around 500,000 people walking around with undiagnosed high blood pressure, so that s going to contribute to patient demand. so how does all this compare with leading european economies also hit hard by covid i9? here are some stats compiled by the 0ns going back to 2020. italy saw deaths 3.5% above the previous average, slightly more than the uk s 3.2%. but that in turn was above spain ....
To personal choice. we will trust the judgment of the british people. and no longer criminalise anyone who chooses not to wear one. so, what is the trend now for covid cases? one of the most authoritative sources is the community infections survey by the office for national statistics, which picks up those without symptoms. and the head of the 0ns thinks this is a significant moment. we are certainly seeing a major turning point, and we are certainly seeing a real reduction. the question i ask is we are not sure yet whether that will continue to go down. ministers want to end self isolation rules in march, or even before if possible, and say they will be reviewed. it is reasonable to think, just as we are living with flu, for example, we don t require people to legally self isolate but to remain cautious, sensible if they are infected, we will eventually have to find a way to live with covid ....