Retail sales in Britain decreased 1.4% less than anticipated in September, according to official statistics that was just revealed. This was due to consumers’ suffering from rising costs.
The National Statistics Office claimed that a public holiday during the late Queen Elizabeth’s burial, when many stores closed their doors, also had an impact on the September data. Retail sales were predicted by economists to fall by 0.5%, according to Reuters. With the exception of car fuel, sales fell 1.
5% more than in August.
Consumers are working to restrict their expenses amid 10 % high inflation, and they are afraid of the possibility of greater pressure on their purchasing power in 2023 after Jeremy Hunt, Minister of Finance, canceled tax discounts previously planned by Liz Terrace, and Terrace announced on Thursday her resignation..
British consumers cut back on spending as inflation rises to 10%
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