(Alliance News) – UK retail sales increased last month, though the trio of bank holidays failed to boost figures as much as expected, numbers on Tuesday showed.
According to the British Retail Consortium, sales rose 3.9% on-year in May. It compares to a 1.1% fall a year prior. It is also below the three-month average growth of 4.7%.
On a like-for-like basis, sales increased 3.7% year-on-year last month, falling below the three-month average rise of 4.7%. In May 2022, sales had fallen 1.5% year-on-year on a like-for-like basis.
Over the three months to April, food sales increased 9.6% and non-food sales rose 0.7%, both on a total basis.
BRC Chief Executive Helen Dickinson said: “The trio of bank holidays failed to get shoppers spending as sales growth slowed to its lowest level in six months. While food sales got a boost from the Coronation weekend, this was not sustained for the rest of the month. Meanwhile, growth in discretionary spend continued to tumble as the high cost of living squeezed households. There was cause for some optimism, however, as brighter weather at the end of the month led to a much-needed pick-up in summer fashion sales, as well as gardening and DIY products.
“With consumer confidence still recovering from record depths, and continued tightening of household incomes, we are unlikely to see substantial sales growth in the coming months. But, with signs that inflation has possibly peaked, retailers are hopeful that confidence will continue to improve.”
By Sophie Rose, Alliance News reporter
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