U.K. Retail Sales Weaken

UK retail sales weakened for the second month running in July as the supermarket price war and continued low food inflation saw shoppers spending less on food.

Like-for-like sales – which exclude spending in shops that opened or closed in the intervening year – were down 0.3 per cent in July on the same month last year, according to monthly data from the British Retail Consortium/KPMG survey.

City economists had been expecting sales to bounce back 0.55 per cent after a 0.8 per cent decline in June.  The fall was driven by continuing weakness in food sales, which declined 3.5 per cent in the three months to July. However, non-food sales continued to grow, up 2.4 per cent in the same period.

Financial Times

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