BRC responds to Retail Sales Index - August 22

Responding to the latest Retail Sales Index data showing retail sales (excluding automotive fuel)  up 3.7% by Value (YoY) but down 5.0% by Volume (YoY), Helen Dickinson, Chief Executive of the British Retail Consortium, said:

“Sales rose slightly in August, though volumes were down significantly as a result of inflation at 10%. Consumers cut back on major purchases, such as white goods, as falling real incomes made many people think twice. Retailers are working hard to keep prices down for their customers, despite their own costs rising substantially – including energy, imports, shipping and haulage.

“The new Prime Minister must ensure the cost burden on retailers is not made worse by an £800m rise in business rates expected next year. Without action, it will not just be retailers – but also their customers, who pay the price of this rising tax.”