Retail sales volumes plummet as inflation takes its toll
Retail sales inched up in July, but volumes fell when soaring inflation is taken into account
Total sales rose 2.3% in July, compared with a 6.4% uplift in July last year, which was below the three- and 12-month averages of 0% and 2.7%.
UK retail sales grew 1.6% in July 2021 when they had jumped 4.7%, according to the latest data from the BRC-KPMG Retail Sales Monitor.
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