Steve Beasant

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

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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.

β€œA toxic combination of rising prices and stagnant wages is severely constraining household spending.

β€œYear on year retail growth is also looking weak compared to previous years.

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

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