UK Retailers Hit by Sharp Drop in Spending as Inflation Soars

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The monthly health check from the British Retail Consortium (BRC) reported a third successive drop in activity as the cost of living crisis continued to bite, The Guardian reported.

With the annual inflation rate hitting 9.1% in May, the BRC said even the boost to demand caused by the Queen’s platinum jubilee celebrations failed to prevent retail sales in June being 1% lower than a year earlier.







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