UK retail sales growth stunted by higher cost of living

2.7% increase

Retail sales growth slowed in September as consumers struggled under the weight of higher housing and fuel costs, according to the latest data.

Total UK retail sales increased by 2.7% last month compared to a year ago, in line with the three month average but much weaker than the 12 month average of 4.2%, according to the figures from the British Retail Consortium and KPMG. It was also far below the 4.1% increase in August. Consumers limited spending last month in the face of higher housing, rental and fuel costs, the analysis found. Recession becomes top concern for UK retail investors Helen Dickinson, chief executive of the BRC, said: "Sales growth in September slowed as the high cost of living continues to bear down on ...