UK retail sales growth slows to 4-month low in August, BRC says
The British Retail Consortium reported that UK retail sales growth slowed to a four-month low in August, with total sales increasing by just 0.7% annually, down from 1.3% in July. This decline was primarily due to the fading effects of record-hot weather, which had initially driven summer spending. While food sales continued to grow, averaging 2.6% in August, non-food sales fell by 0.8%, marking a significant slowdown compared to the previous year's average of 0.2%.
Linda Ellett, head of consumer, retail, and leisure at KPMG, noted that shoppers were increasingly favoring cheaper health and beauty products over big-ticket items like furniture and household appliances.
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