Decrease in retail sales in the UK in August amounted to 1.6%

Retail sales in the UK in August 2022 decreased by 1.6% compared to the previous month, according to the country’s National Statistics Office (ONS). The consensus forecast of experts polled by Trading Economics provided for a decline in the indicator by only 0.5%.

In July, the volume of retail sales in the country increased by 0.4%, and not by 0.3%, as previously reported.

On an annualized basis, August sales fell 5.4% after falling 3.2% in July. Analysts had expected a decrease of 3.4%.

Despite the fall, retail sales last month were 0.5% higher than in pre-pandemic February 2020, the ONS said. In value terms, sales over the period soared 13.7%.

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Food sales fell 0.8% in August, automotive fuel sales fell 1.7%, while sales at non-grocery stores fell 1.9% and clothing sales fell 0.6%.

Retail sales in the UK excluding automotive fuel in August decreased by 1.6% compared to July and fell by 5% in annual terms. Analysts had expected a reduction in the first indicator by 0.7%, the second – by 3.4%.

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