British retail sales fell more sharply than expected in July as heavy rain put off shoppers who are also feeling the hit from high inflation and 14 back-to-back increases in interest rates.
Economists polled by Reuters had forecast that sales volumes would fall by 0.5% on the month.
Retail sales volumes were 3.2% lower than a year earlier, the Office for National Statistics said. That compared with economists' forecasts for a 2.1% decline. "It was a particularly bad month for supermarkets as the summer washout combined with the increased cost of living meant sluggish sales for both clothing and food. Department store and household goods sales also dropped significantly."
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