Retail sales fall as consumer confidence tumbles to 2008 lows

Retail sales down 1.4%

UK retail sales fell by 1.4% last month, as news emerged that consumer confidence has reached near-record lows.

Data released today (22 April) by the Office for National Statistics found the largest contributor to a fall in retail sales came from non-store retailing, which fell 7.9% in March compared to a 6.9% drop in February. However, the ONS noted that sales in the sector "were 20.3% above their pre-coronavirus February 2020 levels". Food and petrol sales also fell sharply, with the ONS citing rising prices as possible explanations for the declines. Inflation hit a 40-year high of 7% in March. Meanwhile, the UK consumer confidence index dropped by seven points to -38 in April, close to the l...