UK Retail Sales Drop Sharply Amid Inflation Fears
Retail sales in the UK saw a sharp decline in October as consumers tightened their belts due to rising inflation and economic uncertainty, according to the British Retail Consortium.
Retail sales in the UK saw a sharp decline in October as consumers tightened their belts due to rising inflation and economic uncertainty, according to the British Retail Consortium.
The British Retail Consortium urges the Bank of England to cut interest rates amid falling shop price inflation, warning of continued pressure on consumers and businesses.
A global consortium is reportedly weighing a takeover bid for Whyalla Steelworks, with Bluescope Steel among the key players. The move could reshape Australia’s steel industry.
British retail sales suffer sharpest drop in three years as consumers cut back on non-essentials, with food sales also declining for the first time since 2020.
Retail sales in the UK have plummeted, prompting calls for Chancellor Jeremy Hunt to intervene. Rising inflation and weak consumer demand continue to squeeze the sector.
Shop prices in the UK have fallen for the first time in over two years, offering much-needed relief to struggling families as inflation slows. The British Retail Consortium reports a 0.1% decline in June.