🇬🇧U.K. Food Sales Volume Declines As Prices Accelerate: Cable FX Macro
- Rosbel Durán
- Jan 20, 2023
- 1 min read
U.K. December retail sales fell 1.0% M/m, the ex-auto fuel metric declined by 1.1% M/m, both came in worse than the survey median
The ONS noted food sales volumes continuing a downward trend from Summer 2021. Meanwhile, the amount spent on food sales continues to increase. The divergence is seen as a development of the rise in the cost of living and food prices
With the final calendar month of the year reported, the ONS notes that 2022 retail sales fell by 3.0% Y/y, this is the worst drop ever recorded in the series looking back to 1996
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