Surprise December drop a result of cost of living crisis forcing people to cut budgets in run-up to Christmas
Retail sales in Great Britain unexpectedly fell by 1% last month as the cost of living crisis forced households to cut back on spending in the run-up to Christmas.
The Office for National Statistics (ONS) said the surprise decline in sales volumes – economists had forecast a rise of 0.5% – was down to factors including the rampant increases in food prices, while online sales fell as consumers worried about a wave of postal strikes affecting Christmas deliveries.
Surprise December drop a result of cost of living crisis forcing people to cut budgets in run-up to ChristmasRetail sales in Great Britain unexpectedly fell by 1% last month as the cost of living crisis forced households to cut back on spending in the run-up to Christmas.The Office for National Statistics (ONS) said the surprise decline in sales volumes – economists had forecast a rise of 0.5% – was down to factors including the rampant increases in food prices, while online sales fell as consumers worried about a wave of postal strikes affecting Christmas deliveries. Continue reading…
