𝓤𝓷𝓲𝓽𝓮𝓭 𝓝𝓮𝔀𝓼

A sharp enough fall this morning as stock markets open around Europe, with the FTSE 100 down 0.64%.

In Germany the DAX is down by around the same, while France’s CAC 40 is plummeting, at -1.98%.

Much of this is over concern around the removal of a key Fed member by Donald Trump – more on that shortly.

Marks & Spencer got themselves fully back up and running a couple of weeks ago with the return of their click and collect service.

Now the next phase of their digital push will see them move into the second-hand clothes boom, selling garments on eBay.

Customers can also pick up £5 gift vouchers if they donate M&S clothes to Oxfam.

The charity will benefit from sales of these second-hand clothes.

Butter, chocolate and eggs all rose in price to contribute significantly to overall food inflation in July.

Below is the full report – but it’s estimated that food inflation could hit 5 per cent later this year and the Bank of England has cited fears that food prices could contribute to overall increases in inflation too.

We start off with the morning news on food inflation continuing to rise.

British Retail Consortium data shows it at 4.2 per cent – up from 4 per cent in June – which places it at the fastest rising rate in 18 months, since February 2024.

“Retailers continue doing everything they can to limit price rises for households, but as the Bank of England acknowledged, the £7 billion in new costs flowing through from last year’s budget has created an uphill battle for retailers,” said Helen Dickinson, chief executive of the BRC.

Morning all and welcome back to our live business and finance coverage on The Independent.

This morning we’re looking at food inflation rising, the stock market reopening in London and plenty more.