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Shock climb in retail sales adds to inflation headache
Evening Standard
|June 23, 2023
A SHOCK rise in retail sales kept the spotlight on the Bank of England's hard-fought battle to tame inflation today, just hours after a super-sized rate hike surprised the City.
Retail sales were up by 0.3% in May as Britons bought summer clothes, garden equipment and sun cream in a month that included three bank holidays and the year's first stretch of warm weather.
There were signs of customers cutting back at supermarkets, though, with food sales down 0.5%.
But Ruth Gregory, deputy chief UK economist at Capital Economics, warned it was "too soon" to say if strong retail sales would last and keep the UK out of recession.
Dit verhaal komt uit de June 23, 2023-editie van Evening Standard.
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