UK Data – BRC like for like retail sales rose 4.2% y/y in June (prior was +3.7%) | Forexlive

British Retail Consortium data for June 2023

• like-for-like sales +4.2% y/y (prior +3.7%)
• total retail sales +4.9% y/y (prior +3.9% )

The BRC sais that unusually hot weather
boosted sales of swimwear, beach towels and outdoor games as well as garden furniture and barbecue food in Britain last
month

• but
  consumers spent less on big-ticket items due to high food prices
  continuing to squeeze budgets
• last
  month’s increase in spending still reflects a fall in the volume
  of goods purchased

KPMG, who
sponsor the data, said stubborn food inflation was reducing
shoppers’ ability to spend on non-essential items

“Consumers have so far remained resilient, but the triple
threats of further interest rate hikes, resolute double digit
food inflation and an economy recovering at slower rate than
predicted, could hamper a return to much needed profitable
growth across the retail sector,”