Retail sales in the United Kingdom increased 6.5% on a like-for-like basis in December 2022 from a year ago, accelerating from a 4.1% rise in November amid higher cost of goods and the Christmas boost, but the rate of growth lagged behind inflation. December’s figure was also the highest since January, but remained well below the pace of UK inflation which surged 10.7% in November, not far from a 4-decade high of 11.1% recorded in October. Helen Dickinson, chief executive at the British Retail Consortium, said: “After an exceptionally challenging year which saw inflation climb and consumer confidence plummet, the uptick in spending over Christmas gave many retailers cause for cheer. Nonetheless, despite the stronger sales, growth remained below inflation, making December the 9th consecutive month of falling volumes.” She added that retail faces further headwinds in 2023 as consumer spending will be further constrained by increasing living costs. source: BRC - British Retail Consortium

BRC Retail Sales Monitor YoY in the United Kingdom averaged 1.93 percent from 1995 until 2022, reaching an all time high of 39.60 percent in April of 2021 and a record low of -4.90 percent in November of 2019. This page includes a chart with historical data for the United Kingdom BRC Retail Sales Monitor YoY. United Kingdom BRC Retail Sales Monitor YoY - data, historical chart, forecasts and calendar of releases - was last updated on January of 2023.

BRC Retail Sales Monitor YoY in the United Kingdom is expected to be 0.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United Kingdom BRC Retail Sales Monitor YoY is projected to trend around 2.00 percent in 2024, according to our econometric models.

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United Kingdom BRC Retail Sales Monitor YoY



Calendar GMT Actual Previous Consensus TEForecast
2022-12-06 12:01 AM Nov 4.1% 1.2% 0.6%
2023-01-10 12:01 AM Dec 6.5% 4.1% 2.4% 2.5%
2023-02-07 12:01 AM Jan 6.5%


Related Last Previous Unit Reference
BRC Retail Sales Monitor YoY 6.50 4.10 percent Dec 2022

United Kingdom BRC Retail Sales Monitor YoY
The BRC-KPMG Retail Sales Monitor measures changes in the actual value of retail sales from a sample of retailers. The Monitor measures the value of spending and hence does not adjust for price changes. If prices are rising, sales volumes will increase by less than sales values. In times of price deflation, sales volumes will increase by more than sales values. Retailers report the value of their sales and sales in the equivalent week a year ago. These figures are reported both in total and on a ‘like-for-like’ basis. The percentage increase in the value of sales on a ‘like-for-like’ basis removes the effect of the expansion of retail floor space by the retailers concerned on their sales total. Due to the sample being biased towards large retailers, the ‘like-for-like’ increase usually provides a more accurate guide to general spending patterns, though it will be biased downwards as an estimate of the growth rate for retail as a whole.
Actual Previous Highest Lowest Dates Unit Frequency
6.50 4.10 39.60 -4.90 1995 - 2022 percent Monthly
NSA

News Stream
UK Retail Sales Jump in Dec, Lagging Behind Inflation
Retail sales in the United Kingdom increased 6.5% on a like-for-like basis in December 2022 from a year ago, accelerating from a 4.1% rise in November amid higher cost of goods and the Christmas boost. However, the growth rate still lagged behind inflation. December’s figure was also the highest since January but remained well below the pace of UK inflation +10.7% in November, close to a 4-decade high of 11.1% recorded in October. Helen Dickinson, chief executive at the British Retail Consortium, said: “After an exceptionally challenging year which saw inflation climb and consumer confidence plummet, the uptick in spending over Christmas gave many retailers cause for cheer. Nonetheless, despite the stronger sales, growth remained below inflation, making December the 9th consecutive month of falling volumes.” She added that retail faces headwinds in 2023 as consumer spending will be constrained by increasing living costs.
2023-01-10
UK Retail Sales Jump in Nov, Lag Inflation
Retail sales in the United Kingdom jumped 4.1% on a like-for-like basis in November 2022 from a year ago, accelerating from October’s 1.2% rise due to winter-related purchases and the Black Friday boost, but the rate of growth lagged behind inflation. November’s figure was also the highest since January, but less than half the pace of UK inflation which surged to a four-decade high of 11.1% in October. Helen Dickinson, chief executive at the British Retail Consortium, said: “Sales picked up as Black Friday discounting marked the beginning of the festive shopping season. However, sales growth remained far below current inflation, suggesting volumes continued to be down on last year.” Non-food retail sales fell 0.4% on a like-for-like basis as consumers cut back spending on non-essential items due to soaring prices. Meanwhile, in-store sales of non-food items increased 1.6% on a like-for-like basis from last year.
2022-12-06
UK Retail Sales Ease on Cost of Living Crisis
Retail sales in the United Kingdom increased by 1.2% on a like-for-like basis in October 2022 from a year ago, slowing from September’s 1.8% gain as consumers continued to grapple with the rising cost of living. Helen Dickinson, chief executive at the British Retail Consortium, said: ”With November Black Friday sales just around the corner, many people look to be delaying spending, particularly on bigger purchases.” She added that families focus on making ends meet particularly as mortgage payments rise, and said government action is needed to support households as cost pressures persist. Paul Martin, UK head of retail at KPMG also observed that retail sales growth in October was driven by inflationary pressures and “does not tell the true picture of sales volumes dropping as consumers purchase fewer products per shop.”
2022-11-08