Business for UK retailers did not do well in August. Sales shrank by 1.6 percent compared to the previous month, as the statistics office ONS announced on Friday in London. Experts had only expected a drop of 0.5 percent. In July, retail sales rose by a revised 0.4 percent, from 0.3 percent according to previous data.
The rising cost of living is weighing on retail sales, according to the statistics office. The decline affected all major sectors such as grocery stores. Sales in the segment that includes online trading fell at an above-average rate. Despite the decline, online sales are still almost a quarter above the level before the pandemic. (dpa)