UK retail sales fall to worst level since December 2021 - CBI

UK retail sales fell in January at the fastest pace in three years, according to the latest Distributive Trades Survey form the Confederation of British Industry.

The CBI’s retail sales balance fell from -32 in December to -50 - the worst level since December 2021 when the UK was in lockdown.

CBI principal economist Martin Sartorius said: "Looking ahead, demand conditions in the sector will remain challenging as higher interest rates continue to feed through to mortgage payments and household incomes."