UK retail sales fall in June - CBI

UK retail sales fell again in June as consumers continued to retrench spending due to the high cost of living, according to a business survey published on Monday.

The Confederation of British Industry (CBI) monthly distributive trades index fell to -9 from -10 in May.

“Another contraction in sales volumes attests to the difficult trading environment being faced by the retail sector. Households’ finances are still under pressure from high inflation,” said CBI economist Martin Sartorius.

A measure of expected sales in the month ahead remained flat at zero.

Reporting by Frank Prenesti for Sharecast.com