UK retail sales growth slowed in September as households reduced spending on big ticket items, the British Retail Consortium said on Tuesday.
Retail sales advanced 2.7 percent on a yearly basis compared to an increase of 4.1 percent in August. In the same period last year, sales advanced 2.2 percent.
Food sales posted an annual growth of 7.4 percent, while non-food sales were down 1.2 percent.
The three-month average retail sales growth came in at 2.7 percent, which was below the 12-month average growth of 4.2 percent.
In-store non-food sales gained 0.3 percent and online non-food sales decreased 3.6 percent in September, data showed.
The proportion of non-food items bought online decreased to 34.9 percent in September from 35.1 percent last year.
BRC Chief Executive Helen Dickinson said high cost of living continued to bear down on households. "Big ticket items such as furniture and electricals performed poorly as consumers limited spending in the face of higher housing, rental and fuel costs," said Dickinson. Dickinson added that the coming months are crucial for retailers as they enter the "Golden Quarter" and they are investing heavily to support customers and bring prices down.
However, such efforts are challenged by the GBP 400 million increase in business rates slated for 2024, Dickinson noted.
