UK retail sales slump 0.3% in October

Lowest since February 2021

UK retail sales have hit their lowest level since February 2021, as sales dropped 0.3% throughout October.

In the first official economic data set released for October, the Office for National Statistics revealed that compared with October 2022, total retail volumes had declined 2.7%. UK inflation falls to 4.6% in October The month saw declines in both food (-0.3%) and non-food (-0.2%) store sales, however non-store retailing, which is predominantly online retailers, saw sales rise by 0.8%. Petrol sales fell by 2% throughout the month, which the ONS attributed to rising fuel prices. The ONS also revised down September's numbers, with sales dropping an estimated 1.1%, rather than 0.9%...