Retail sales fell in December following last month's slight increase. This was driven by a very poor month for food sales, which sank to their lowest level since 2013, with supermarkets particularly affected.
In non-food, electricals, beauty and books made for popular presents. Meanwhile, sales of furniture and other large ticket items were hard hit as families continued to think twice before making larger purchases, and clothing and footwear sales remained muted.
While retailers welcome this boost to sales, it will barely touch the sides of the £7bn in new costs from the Budget facing the industry in 2025. Higher employer national insurance contributions, higher National Living Wage, and a new packaging levy will heap pressure on an industry that is already paying more than its fair share of tax.
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