Retail sales increased by 0.3 per cent in July reflecting the hit to spending power from spiking inflation and fragile household confidence ahead of Brexit.
Most of July’s increase was down to due to strong sales in food stores at 1.5%; recovering from a fall of 1.1% in June 2017 according to figures from the ONS released this morning while other sectors except food and household goods stores declined on the month for the quantity bought in retail sales.
Commenting on today’s official retail figures, Ole Black, Office for National Statistics Senior Statistician said:
“The underlying trend at the beginning of 2017 showed a relatively subdued picture in retail sales. Strong food sales have been responsible for the growth of 0.3% in July compared with June, as all other main sectors have shown a decrease. Whilst the overall growth is the same as in June, trends in growth in different sectors are proving quite volatile.”
