UK Retail Sales Growth Weakens In September

(RTTNews) - UK retail sales registered slower growth in September amid looming budget, the British Retail Consortium said Tuesday.

Retail sales grew 2.3 percent year-on-year in September, slower than the 3.1 percent increase in August. In the same period last year, retail sales had advanced 2.0 percent.

Food sales grew 4.3 percent compared to an increase of 2.3 percent last year. At the same time, non-food sales advanced 0.7 percent versus a growth of 1.7 percent in the prior year.

With the Budget looming large, and households facing higher bills, retail spending rose more slowly than in recent months, BRC Chief Executive Helen Dickinson observed. "Rising inflation and a potentially taxing Budget is weighing on the minds of many households planning their Christmas spending," Dickinson added.

"By exempting these shops when the Budget announcements are made, the Chancellor can reduce the inflationary pressures hammering businesses and households alike," said Dickinson.