Corrections in the second paragraph
UK retail sales experienced a rebound in May, and selling price inflation continued to ease, according to survey results released Tuesday by the Confederation of British Industry (CBI).
The retail sales balance improved significantly to +8 percent in May, up from -44 percent in April, as per the latest findings from the Distributive Trades Survey.
Concurrently, selling price inflation softened in May, with the balance dropping to 20 percent, down from 54 percent in February. This marks the lowest level since August 2020.
A net 4 percent of retailers expect sales volumes to decline next month.
CBI Lead Economist Alpesh Paleja stated that easing inflation, combined with ongoing real wage growth, will contribute to a more favorable consumer outlook, thereby providing further support to the retail sector.
