According to the British National Statistics Office, retail sales decreased by 6.9% from September to October.
Retail sales fell on an annual and monthly basis by 5.0% and 0.5%, respectively, according to a Reuters survey of economic experts’ assessments.
The Statistics Office said that the September data was also affected by a one -time holiday to revive the funeral of Queen Elizabeth when he closed many retailers.
Retail sales dropped by 1 excluding auto gasoline.
5% less in September than in August.
As inflation rose to 10%, consumers cut back on their spending. They also might face harder pressure on their purchasing power in 2023 after Finance Minister Jeremy Hunt scrapped the tax cuts that Prime Minister Liz Tros had initially proposed. which on Thursday presented her resignation.
The largest leap in Britain has pushed in 1980 to inflate more than ten percent last month, as a level is the highest in 40 years it reached in July, which constitutes a new blow to families that struggle to cope with the crisis of living cost in the country.
Food and non-alcoholic beverage costs were the main driver of September’s 14.5% increase in inflation, which was the highest rate since April 1980.
In September, retail sales in the United Kingdom decreased by 1.4%.
About Author
