By Michael Susin
Retail sales growth in the U.K. weakened in the key trading period of December as consumers continued to hold back spending due to high living costs, according to British Retail Consortium data published Tuesday.
Total retail sales for the five weeks to Dec. 30 increased by 1.7% compared with the prior month, when it saw growth of 2.7%, the BRC-KPMG Retail Sales Monitor report said. This was below the three-month average of 2.3% growth and the 6.9% in December last year.
Food sales continued to be the main growth driver, with a 6.8% increase over the three months to November, while non-food sales further decreased 1.5%.
For 2023 overall, retail sales increased by 3.6% from 2022 levels. Food growth was 8.1% and non-food declined 0.1%.
“The festive period failed to make amends for a challenging year of sluggish retail-sales growth, as weak consumer confidence continued to hold back spending. The post-Christmas sales were unsuccessful in enticing spend in areas such as furniture and homeware, with households remaining cautious about making larger purchases,” Chief Executive Helen Dickinson said.
Write to Michael Susin at michael.susin@wsj.com
