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25.07
08:18:19

Retail sales see record drop - England

June saw the biggest fall in retail sales in the UK since records begun, overturning a surprise increase in May. A 3.9% decline was recorded with clothing and footwear worst hit, falling 6.9%.

 

Consumers have been battling with soaring fuel and energy costs this year, as well as rampant food inflation.

 

Economists said June's data from the Office for National Statistics (ONS) confirmed shoppers were increasingly reducing their spending, and this would reduce pressure for the Bank of England to increase interest rates to bring down soaring inflation.

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