Retail sales in the United Kingdom increased by 0.5% on a like-for-like basis in August 2022 from a year ago, slowing from a 1.6% growth in July as consumers reined in spending amid the surging cost of living. The data comes as Britons grapple with four-decade high inflation and the Bank of England expects the economy to enter a recession by the end of 2022. Helen Dickinson, chief executive at the British Retail Consortium, said: “While inflation in retail prices is lower than general inflation at over 10%, this still represents a significant drop in sales volumes. For the first time in recent months, clothing sales were sluggish as summer events ended, and parents held back on back-to-school spending.” Don Williams, retail partner at KPMG, added: "Worryingly, August data revealed a significant fall in clothing sales, the category which has been the most robust performer this year which could signal the start of shoppers pulling back from non-essential spending.” source: BRC - British Retail Consortium

BRC Retail Sales Monitor YoY in the United Kingdom averaged 1.92 percent from 1995 until 2022, reaching an all time high of 39.60 percent in April of 2021 and a record low of -4.90 percent in November of 2019. This page includes a chart with historical data for the United Kingdom BRC Retail Sales Monitor YoY. United Kingdom BRC Retail Sales Monitor YoY - data, historical chart, forecasts and calendar of releases - was last updated on October of 2022.

BRC Retail Sales Monitor YoY in the United Kingdom is expected to be 1.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United Kingdom BRC Retail Sales Monitor YoY is projected to trend around 1.90 percent in 2023 and 2.00 percent in 2024, according to our econometric models.

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United Kingdom BRC Retail Sales Monitor YoY



Related Last Previous Unit Reference
BRC Retail Sales Monitor YoY 0.50 1.60 percent Aug 2022

United Kingdom BRC Retail Sales Monitor YoY
The BRC-KPMG Retail Sales Monitor measures changes in the actual value of retail sales from a sample of retailers. The Monitor measures the value of spending and hence does not adjust for price changes. If prices are rising, sales volumes will increase by less than sales values. In times of price deflation, sales volumes will increase by more than sales values. Retailers report the value of their sales and sales in the equivalent week a year ago. These figures are reported both in total and on a ‘like-for-like’ basis. The percentage increase in the value of sales on a ‘like-for-like’ basis removes the effect of the expansion of retail floor space by the retailers concerned on their sales total. Due to the sample being biased towards large retailers, the ‘like-for-like’ increase usually provides a more accurate guide to general spending patterns, though it will be biased downwards as an estimate of the growth rate for retail as a whole.
Actual Previous Highest Lowest Dates Unit Frequency
0.50 1.60 39.60 -4.90 1995 - 2022 percent Monthly
NSA

News Stream
UK Retail Sales Ease Amid Cost of Living Crisis
Retail sales in the United Kingdom increased by 0.5% on a like-for-like basis in August 2022 from a year ago, slowing from a 1.6% growth in July as consumers reined in spending amid the surging cost of living. The data comes as Britons grapple with four-decade high inflation and the Bank of England expects the economy to enter a recession by the end of 2022. Helen Dickinson, chief executive at the British Retail Consortium, said: “While inflation in retail prices is lower than general inflation at over 10%, this still represents a significant drop in sales volumes. For the first time in recent months, clothing sales were sluggish as summer events ended, and parents held back on back-to-school spending.” Don Williams, retail partner at KPMG, added: "Worryingly, August data revealed a significant fall in clothing sales, the category which has been the most robust performer this year which could signal the start of shoppers pulling back from non-essential spending.”
2022-09-06
UK Retail Sales Rise on Hot Weather Spending
Retail sales in the United Kingdom increased by 1.6% on a like-for-like basis in July 2022 from a year ago, rising for the first time in five months as demand for summer clothing, electric fans and picnic food during the record hot weather helped retailers rebound last month. “Sales improved in July as the heatwave boosted sales of hot weather essentials,” Helen Dickinson, chief executive at the British Retail Consortium, said. “However, with inflation at over 9%, many retailers are still contending with falling sales volumes during what remains an incredibly difficult trading period,” she added. Analysts said the growth was due in large part to inflation, with overall prices significantly higher than the same period last year, while sales volume declined as higher costs continued to weigh on consumers.
2022-08-09
UK Retail Sales Fall on Inflation Angst
Retail sales in the United Kingdom decreased 1.3% on a like-for-like basis in June 2022 from a year ago, contracting for the fourth straight month as surging inflation continued to hit household spending. “Sales volumes are falling to a rate not seen since the depths of the pandemic, as inflation continues to bite and households cut back spending,” Helen Dickinson, chief executive at the British Retail Consortium, said. She added that consumers traded down to cheaper brands when buying food and other products, while postponing purchases of kitchen appliances and homeware. The BRC also noted that the figures were not adjusted for inflation, currently running at a 40-year high of 9.1%, masking a larger fall in retail sales.
2022-07-12