UK retail sales slump 0.3% in October

Lowest since February 2021

Elliot Gulliver-Needham
clock • 1 min read

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%...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on UK

Trustpilot