Inflation – the rate at which prices are rising – hit 10.1% in March, mainly due to the increasing cost of food. The rate had been expected to fall below 10%.
Dorchester Chamber for Business President Peter Greenaway said: “The decline in UK retail sales figures is concerning and could indicate challenges in the consumer market. Factors such as changing consumer preferences, economic fluctuations, or shifts in spending patterns may be contributing to the decline. It could have implications for the overall health of the retail industry, including potential impacts on businesses, employment, and the economy. It may be important for policymakers, businesses, and consumers to monitor and understand the underlying reasons for the decline in retail sales, and consider appropriate measures to address any issues or support the retail sector as needed.”
