Shoppers bought less fuel and food in October as they were hit by rising living costs and poor weather, according to official figures.
The volume of products sold last month fell by 0.3% to the lowest level since February 2021 when large parts of the UK were in Covid lockdowns.
Retail sales had widely been forecast to grow in October.
Retail sales had widely been forecast to grow in October.
Gross domestic product – the amount of the goods and services produced by the UK – flatlined between July and September and the Bank of England expects only subdued growth until 2025.
Next week, Chancellor Jeremy Hunt will make his Autumn Statement when he will set out the government’s tax and spending plans and his strategy to grow the economy.
Commenting on the latest data, the Office for National Statistics said petrol and diesel sales may have been “affected by increasing fuel prices”.
Demand for other goods was also lower, said the ONS.
“It was another poor month for household goods and clothes stores with these retailers reporting that cost of living pressures, reduced footfall and poor weather hit them hard,” said Heather Bovill, deputy director for survey and economic indicators at the ONS.
Shoppers bought less fuel and food in October as they were hit by rising living costs and poor weather, according to official figures.
Retail sales had widely been forecast to grow in October.
The volume of products sold last month fell by 0.3% to the lowest level since February 2021 when large parts of the UK were in Covid lockdowns.
Gross domestic product – the amount of the goods and services produced by the UK – flatlined between July and September and the Bank of England expects only subdued growth until 2025.
Retail sales had widely been forecast to grow in October.
Retail sales had widely been forecast to grow in October.
Gross domestic product – the amount of the goods and services produced by the UK – flatlined between July and September and the Bank of England expects only subdued growth until 2025.
Next week, Chancellor Jeremy Hunt will make his Autumn Statement when he will set out the government’s tax and spending plans and his strategy to grow the economy.
Commenting on the latest data, the Office for National Statistics said petrol and diesel sales may have been “affected by increasing fuel prices”.
Demand for other goods was also lower, said the ONS.
“It was another poor month for household goods and clothes stores with these retailers reporting that cost of living pressures, reduced footfall and poor weather hit them hard,” said Heather Bovill, deputy director for survey and economic indicators at the ONS.
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