UK March retail sales -1.4% vs -0.3% m/m expected

• Prior -0.3%
• Retail sales +0.9% vs +2.8% y/y expected
• Prior +7.0%

• Retail sales (ex fuel) -1.1% vs -0.4% m/m expected
• Prior -0.7%
• Retail sales (ex fuel) -0.6% vs +0.7% y/y expected
• Prior +4.6%

Those are some poor numbers as the cost-of-living crisis that is deepening in the UK is likely weighing on consumption activity. The biggest contributor to the drop in retail sales comes from non-store retailing in which sales volumes fell by 7.9% over the month. That said, overall retail sales volumes were still seen 20.3% above their pre-pandemic levels i.e. February 2020.

Looking at the details further, food store sales volumes fell by 1.1% in March while automotive fuel sales volumes fell by 3.8%.

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 much?