Responding to the latest ONS Retail Sales Index figures, Harvir Dhillon, Economist at the British Retail Consortium, said:
“Food sales were boosted last month as families and friends came together for Easter. Health and beauty continued to perform well, as did computers with people upgrading to newer models. Meanwhile, items such as TVs struggled as people held back on larger purchases, and footwear also continued to struggle with low demand.”
“Ongoing geopolitical volatility has dragged down consumer confidence, which is now at a record low. And while higher inflation may deliver the sugar high of greater sales values, volumes are likely to drop as the cost of living squeeze gets worse. Government should focus on keeping domestic policy costs down to avoid adding further inflationary pressures, from the Employment Rights Act and new healthy food rules, to non-commodity charges which make up such a large proportion of energy bills.”
