Retail sales fall in Great Britain as shoppers rein in food spending

Decline of 1.4% in September is first month that volumes have dropped below pre-pandemic levels

Retail sales in Great Britain fell more steeply than expected in September as soaring prices prompted consumers to rein in spending and many stores lost trading on the day of the Queen’s funeral.

The Office for National Statistics said retail sales dropped by 1.4% in September, against a forecast of a 0.5% fall by City economists, and marks the first month that volumes have fallen below pre-pandemic levels.

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​Decline of 1.4% in September is first month that volumes have dropped below pre-pandemic levelsRetail sales in Great Britain fell more steeply than expected in September as soaring prices prompted consumers to rein in spending and many stores lost trading on the day of the Queen’s funeral.The Office for National Statistics said retail sales dropped by 1.4% in September, against a forecast of a 0.5% fall by City economists, and marks the first month that volumes have fallen below pre-pandemic levels. Continue reading…