UK Retail Sales Slump as Inflation Rises, Spending Shifts

Sumber: Reuters | Editor: Anastasia Lilin Yuliantina

KONTAN.CO.ID - LONDON. British retail sales slumped in April with the first year-on-year fall in volumes in 13 months, reflecting a cost-of-living squeeze and changed spending patterns. Fgures from the Confederation of British Industry showed on Wednesday.

The CBI's headline retail sales balance fell to -35 in April from +9 in March, well below the average -3 expected in a Reuters poll of economists. Some 63% of stores reported that sales volumes fell, compared with 28% who experienced a rise.