UK retail sales fell 0.5 per cent in July as shoppers cut back during record temperatures, according to the Office for National Statistics, reversing the rise recorded in June at the start of the warm summer and the Fifa men’s World Cup.
The monthly fall was in line with expectations from economists polled by Reuters. June’s increase was revised down from 1 per cent to 0.7 per cent, and July’s drop wiped out that gain.
Over a rolling three-month period, sales volumes are up 1.1 per cent, the ONS said.
Spending on clothing, footwear and household goods all fell in July. Excluding petrol and diesel, sales volumes recorded a larger 0.9 per cent monthly contraction. Pump prices rose in July after the end of a US-Iran ceasefire pushed up global oil costs.
Grant Fitzner, chief economist at the ONS, said British consumers had ramped up spending on sports merchandise, fans and outdoor products.
Support authors and subscribe to content
This is premium stuff. Subscribe to read the entire article.
Login if you have purchased
