BRC Response to ONS Retail Sales Index

Responding to the latest ONS Retail Sales Index figures, Helen Dickinson, Chief Executive of the British Retail Consortium, said: 

“As mortgages, rents and fuel costs continued to weigh on households, sales were impacted for big ticket items such as computers, electricals and larger household appliances. Meanwhile, cosmetics and toiletries had another strong month.”

“With the “Golden Quarter” fast approaching, retailers are hopeful that easing inflation we have seen in recent months will boost consumer confidence. Retailers will continue to support customers by bringing prices down wherever they can. But, the support they can provide will be limited by the expected £470m-a-year rise to business rates from next April. The Chancellor must scrap the rates rise in his upcoming Budget so retailers can continue to deliver the best value for customers over the festive period and beyond.”

-ENDS-   

According to the ONS, on a Year-on-year seasonally adjusted basis: 

• Sales by Value (amount spent) increased 6.0% YoY (this growth is primarily due to rising prices) 
• Sales by Volume (quantity bought) fell -1.2% YoY