Economic Buzz: UK Retail Sales Decline 0.1% In June

22 Jul 2022 , 03:27 PM

UK retail sales dropped at a slower pace in June as food sales rebounded amid Jubilee celebrations but consumers spent less on clothing and household goods in response to high inflation. Retail sales volume fell only by 0.1 percent month-on-month in June, following a revised 0.8 percent decrease in May, the Office for National Statistics reported. This was also slower than the expected 0.3 percent fall. On a yearly basis, retail sales declined 5.8 percent after easing 4.7 percent in May. Likewise, the annual decline in the sales volume excluding auto fuel, came in at 5.9 percent versus -5.5 percent in May. Over the recent months, retailers reported a decline in sales volume due to increased food prices and high cost of living.Powered by Commodity Insights