UK BRC January retail sales +1.4% y/y vs +1.9% prior

• Prior was +1.9%
• Consumer spending +3.1% y/y
• Consumer confidence about personal finances at highest since Nov 2021

The UK retail sales data from the British Retail Consortium (BRC) provides insight into the performance of the retail sector in the United Kingdom. These numbers aren't adjusted for inflation so the 1.4% y/y nominal rise shows negative sales when adjusted for UK inflation.

The BRC said bad weather discouraged shoppers, while separate figures from Barclays hinted at the same, with online shopping jumping the most in two years.

In any case, I don't see much help coming from the Bank of England in the first half of the year.