Thursday April 9, 2020

Priced out: Inflation now hitting UK consumers

Unexpected fall in January sales means underlying trend down for first time since 2013

17th February, 2017
Weak sterling pushing UK prices up. Pic: Getty

Official figures from Britain this morning appear to provide confirmation that higher inflation is starting to bite consumers.

The Office for National Statistics said retail sales fell by 0.3 per cent in January after a 2.1 per cent slump in December. Economists had expected an increase in sales in January.

The December figure was revised from a previous estimate of 1.9 per cent and was the biggest drop since May 2011. The annual rate of increase in...

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