Retail sales volumes plummet as inflation takes its toll

Blurred image of shoppers on high street

Retail sales inched up in July, but volumes fell when soaring inflation is taken into account

Total sales rose 2.3% in July, compared with a 6.4% uplift in July last year, which was below the three- and 12-month averages of 0% and 2.7%.

UK retail sales grew 1.6% in July 2021 when they had jumped 4.7%, according to the latest data from the BRC-KPMG Retail Sales Monitor.

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