UK retail sales unexpectedly rose by 0.3% in September
UK retailers have shown robust foods sales
BRITISH retail sales unexpectedly rose by 0.3 per cent in September, figures from the Office for National Statistics (ONS) showed on Friday (Oct 18).
A Reuters poll of economists had forecast a monthly fall of 0.3 per cent in sales volumes from August.
British households continue to struggle with higher living costs accelerated by a surge in energy prices following Russia’s invasion of Ukraine in February 2022.
But the cost of living squeeze on households has slightly eased since then, with inflation falling below 2 per cent from a peak of 11.1 per cent in October 2022.
Recent reports from UK retailers have shown robust foods sales.
Tesco, Britain’s biggest grocer, lifted its annual profit forecast and said it was expecting a strong Christmas.
But consumers have remained reluctant to spend on discretionary items.
The boss of another supermarket chain Sainsbury’s, which makes a quarter of its sales in non-food, told Reuters shoppers remained nervous about spending on bigger ticket items before the new government’s first budget on Oct 30. REUTERS
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