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.