UK retail sales remained muted in January following December’s fall, with fuel sales spiking and prices continuing to plummet.
The Office for National Statistics (ONS) released the figures which showed retail sales volumes increased by just half a per cent last month.
This comes after it dipped by 1.2 per cent in December, despite the annual festive shopping rush.
Earlier in the week, it was reported that UK inflation had dropped for the third straight month in a row, as Britain swerved a technical recession – though fears it may still fall into one have no disappeared.
Despite being 0.5 per cent up on December, volumes were still 1.4 per cent down on pre-Covid levels, and 0.9 per cent down in the three months to January overall. Compared to the previous year however, they fell by 5.7 per cent.
The cost of living crisis and energy crisis has continued to … Read more