British Queen celebrates


According to the Confederation of British Industry (CBI), British retailers have seen a more modest annual decline in sales for September compared to the previous month,

and they anticipate a gradual improvement in the coming months.

The CBI's monthly retail sales survey for September, conducted between August 25 and September 13, revealed that the headline balance rebounded to -14, marking a three-month high. This is a significant improvement from August's figure, which had hit a more than two-year low at -44.

CBI Principal Economist Martin Sartorius commented on the findings, saying, "There are reasons for optimism in our survey, as retailers anticipate a continued easing of the recent sales decline." He also noted that lower-than-expected inflation figures from the previous week, which relieve some pressure on household budgets, provide hope for retailers as they enter the crucial autumn and winter trading season.

The expected sales balance for October also saw improvement, reaching a three-month high at -8.

Recent official retail sales data for the UK showed a 0.8% month-on-month increase in sales volumes in August, following a notable 1.1% drop in July due to unusually wet weather disrupting typical summer spending patterns.

In addition to the positive retail sales data, consumer price inflation unexpectedly decreased last month, falling to 6.7% from July's 6.8%, marking its lowest level in 18 months. This prompted the Bank of England to refrain from raising interest rates in its latest decision.

However, the CBI cautioned that the persistently high prices of oil and fuel could keep inflation elevated for an extended period.

The CEO of Aldi UK emphasized on Monday that concerns about the cost of living continue to influence consumer behavior in the realm of food shopping. Photo by Whittle100, Wikimedia commons.