2023-08-18 07:43:30
Retail sales in the UK fell 1.2% in volume in July, more than expected, as Britons preferred to stay at home in the face of unseasonable rain, the Office for National Statistics said on Friday. (ONS).
July ‘was a particularly bad month for supermarkets, with heavy rains combined with the rising cost of living resulting in sluggish sales for clothing and groceries’, summarized on X ( ex-Twitter) Heather Bovill, an ONS official.
Retail sales, which rose 0.6% in June (a figure revised slightly downwards on Friday), are falling once more for the first time since March.
Food sales fell further, by 2.6% in volume in July, but online sales, on the other hand, rose, boosted by the rainy weather but also by promotions, continues the ONS.
‘The drop in sales’ in July ‘has a lot to do with the fact that last month was the sixth wettest July since records began in 1836,’ said Ruth Gregory of Capital Economics.
But ‘with the Bank of England’s interest rate hikes ‘in the face of inflation’ and consumer confidence falling, we remain pessimistic regarding the outlook for consumer spending’ overall this year, the analyst continues. .
Inflation marked time in July in the United Kingdom, at 6.8% over one year once morest 7.9% in June, mainly thanks to the fall in energy prices, providing respite from the cost crisis of life.
The country also saw its growth rebound more than expected in the second quarter (+0.2%), driven by manufacturing activity and the hotel and catering industry in particular.
But if inflation across the Channel is at its lowest since February last year, it remains the highest of the G7 countries.
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