Steve Beasant

Liberal Democrat Prospective Parliamentary Candidate for Great Grimsby and Councillor for the East Marsh Learn more

Read more on this

View more tweets

Read more on this

View more tweets

Retail sales fall as shop prices see biggest rise in five years

by Steve Beasant on 20 October, 2017

Retail sales fell sharply by 0.8% in September 2017 compared to the previous month, figures published today by the Office for National Statistics have revealed.

Meanwhile, prices in the shops increased by 3.3% compared to last year, the largest annual rise since March 2012.

Liberal Democrat Leader Vince Cable commented:

“This fall in retail sales shows shoppers across Britain are feeling the Brexit squeeze.

“A toxic combination of rising prices and stagnant wages is severely constraining household spending.

“Year on year retail growth is also looking weak compared to previous years.

“Given the UK’s unhealthy over-reliance on consumer spending, the government must clarify where future economic growth is going to come from.”

   Leave a comment

Leave a Reply

You can use these tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>