UK retail sales saw a summer boost in August, but with inflation still running high the rise masked a likely drop in volumes, according to the British Retail Consortium (BRC).
Total retail sales increased by 4.1% in August, against a growth of 1% in August 2022. This was above the three-month average growth of 3.6% and in line with the 12-month average growth of 4.1%. None of the sales figures are adjusted for inflation. Food sales increased 8.2% on a total basis over the three months to August. This is above the 12 month average growth of 8%. For the month of August, food was in growth year-on-year. Non-food sales decreased 0.2% over the three months to August, below the 12-month average growth of 0.9%. UK retail sales dampened by wet weather Alto...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
