Retail sales tumble in May as consumers cut back on food shopping
Retail sales dropped in the month of May as the cost-of-living crisis hit consumer wallets.
Retail sales excluding fuel inched up 1.7% year on year on a value basis, but tumbled 5.7% by volume as customers cut back on spending, according to the latest data from the Office for National Statistics.
This fall in sales volumes was driven by a decline in sales in food stores, down 1.6% for the month of May as inflation caused prices to skyrocket.
Already have an account? Sign in here