, , ,

UK retail sales slide in December after Black Friday boost

UK retail sales slid 1.5% in December from the previous month after consumers had brought forward their Christmas shopping, official data showed today.

Retail sales in the UK had jumped by 1% in November, boosted by Black Friday price reductions, the Office for National Statistics said.

Sales though climbed 1.4% in December compared with one year earlier, the ONS added.

Retail sales continued to grow in the last three months of the year partly due to Black Friday deals boosting spending,” the ONS said.

Consumers continue to move Christmas purchases earlier, with higher spending in November and lower spending in December than seen in previous years,” it added.

The ONS also said that the longer-term picture is one of slowing growth, with increased prices squeezing people’s spending.

UK wages are being eroded by Brexit-fuelled inflation, according to recent official data.

Since Britain voted to leave the European Union in June 2016, a drop in sterling – making imported goods more expensive – has pushed inflation upwards.

Article in RTE