"Helen Dickinson, the chief executive of the BRC, said the looming budget had affected spending alongside milder weather, while growth in the value of food sales was mostly down to rising grocery prices. Rising inflation and a potentially taxing budget are weighing on the minds of many households planning their Christmas spending, she said. The BRC said UK total retail sales increased by 2.3% year on year in September, compared with a growth rate of 3.1% the previous month."
"Food sales increased by a stronger 4.3% year on year, albeit as grocery inflation accelerates amid a fresh squeeze on living standards. Non-food spending rose by 0.7% year on year, below a 12-month average of 0.9%, as milder temperatures across the UK deterred shoppers from refreshing their autumn and winter wardrobes. Sales were propped up by spending on electrical goods, after the launch of Apple's latest iPhone and smartwatch."
UK total retail sales growth slowed to 2.3% year-on-year in September, down from 3.1% in August, while Barclays reported card spending fell 0.7% year-on-year. Consumers are adjusting finances ahead of the chancellor's 26 November budget, with many building savings buffers. Food sales rose 4.3% year-on-year as grocery inflation increased; non-food spending rose only 0.7% year-on-year, below a 12-month average of 0.9%, partly due to milder temperatures reducing autumn and winter clothing purchases. Sales were supported by electrical goods after Apple's product launches. Retailers and accountancy executives describe consumer spending as cautious and targeted amid inflation and expected tax rises.
Read at www.theguardian.com
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