UK retail gross sales slip in June as shoppers battle with inflation

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Consumers stroll down the road in London, Britain December 18, 2020. REUTERS/Hannah Mckay

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LONDON, July 22 (Reuters) – British retail gross sales volumes fell by a smaller-than-expected 0.1% in June from Might, the Workplace for Nationwide Statistics mentioned on Friday, however the pattern remained weak as households battle with surging inflation.

Economists polled by Reuters had anticipated a 0.3% month-to-month fall in retail gross sales.

“After taking account of rising costs, retail gross sales fell barely in June and though they continue to be above their pre-pandemic stage, the broader pattern is one among decline,” Heather Bovill, an ONS statistician, mentioned.

A month-to-month fall in Might was estimated to have been extra extreme than initially thought, displaying a drop of 0.8% from April in contrast with an initially reported decline of 0.5%.

Excluding automotive gas, which has soared in value and brought an even bigger chunk out of family budgets, gross sales volumes rose by 0.4% on the month, defying the ballot forecast for a fall of 0.4%.

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Reporting by William Schomberg; modifying by William James

Our Requirements: The Thomson Reuters Belief Rules.


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