UK June CBI retailing reported sales -5 vs -3 expected

• Prior -1

UK retailers continue to report falling sales in June, with the report highlighting that they are also expecting sales next month to be well below normal for this time of the year. If anything else, this just underscores the fallout amid the cost-of-living crisis that is weighing on consumption activity. CBI notes that:

"Retail volumes are struggling as high inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term eats away at consumers' budgets. The squeeze on household income appears to have offset any boost to activity from the extended Platinum Jubilee bank holiday earlier this month."