British retail spending edges down

British retail spending edges down

The previous month British retail spending declined at the fastest pace since 2008 because customers reduced purchases of non-food goods amid soaring inflation, as a poll disclosed on Tuesday.

On a like-for-like basis retail sales values edged down by an annual 1%, stripping out changes in store size, as the British Retail Consortium informed, compared with September’s 1.9% soar.

Another poll from payments company Barclaycard also disclosed poor consumer spending. The survey pointed to a similar split between expenditure on essentials and the cost of spending on discretionary stuff.

The previous week, the Bank of England lifted interest rates for the first time for more than 10 years.

The vast majority of market experts surveyed by Reuters before the decision were assured that a lift would be an error in part because of the vulnerable state of consumer finances, suppressed by the soar in inflation since Brexit vote.

Similar

Canadian CPI

Inflation data is the most important indicator that affects the central bank’s monetary policy.

Popular

Asian shares tumble with Japan markets shut

On Monday, stocks in Asia declined with markets in Japan unavailable for a holiday and traders watching oilfield-related stocks after a bankruptcy filing by Singapore's Ezra Holdings…

Greenback surges as yields soar

On Friday, the evergreen buck added against the Japanese yen and euro, drifting away from recent minimums, though revenues were capped as traders focused on a showdown between Donald Trump and members of his own party as for a fresh healthcare bill…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera