Responding to the latest ONS Retail Sales Index
figures, Helen Dickinson, Chief Executive of
the British Retail Consortium, said:
“June’s sunshine gave retail sales growth a boost as customers
readied themselves for the summer season, with products in areas
such as fashion, skincare and books performing particularly well.
Nonetheless, consumer confidence remains fragile, and with
households feeling the pinch from high inflation and rising
interest rates they held back on making big ticket purchases,
especially in areas such as electricals.
“Retailers are hopeful that consumer confidence will improve over
the coming months as inflation eases. Falling inflation rates are
a clear sign that competition is bringing down prices wherever
cost pressures ease. While retailers are doing their bit,
Government has a role to play in bringing inflation down. The
costly reforms to the packaging levy (Extended Producer
Responsibility) and a new deposit return scheme could together
add £4bn in costs to retailers, putting renewed pressure on
prices. Government should reconsider the timelines for
these interventions in order to not make the current
challenging environment even more challenging for households and
businesses.”
-ENDS-
According to the ONS, on a
Year-on-year seasonally adjusted basis:
-
Sales by Value (amount spent) increased
7.8% YoY (this growth is primarily due to rising prices)
-
Sales by Volume (quantity bought) fell
0.9% YoY
