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UK retail sales increased last month, data on Tuesday showed, though purchases of big-ticket items fell, as consumers continue to grapple with cost of living pressures.
According to the latest British Retail Consortium-KPMG tracker, UK retail sales rose 2.7% on-year in September. Growth slowed from 4.1% in August.
The latest reading was in line with the three-month average growth rate, but lagged the 12-month average climb of 4.2%.
‘Sales growth in September slowed as the high cost of living continues to bear down on households. Big ticket items such as furniture and electricals performed poorly as consumers limited spending in the face of higher housing, rental and fuel costs. The Indian summer also meant sales of autumnal clothing, knitwear and coats, have yet to materialise,’ BRC Chief Executive Helen Dickinson said.
Food sales increased 7.4% on-year over the three months to September, though non-food sales decreased 1.2%.
Dickinson added: ‘With sales volumes down, growth has been artificially boosted by high inflation over the last two years. As inflation eases, so too will longer-term sales growth prospects. The coming months are crucial for retailers as they enter the ’golden quarter’ and they’re investing heavily to support customers and bring prices down.’
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