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Consumer spending in the UK drops down

Fall registered in March is the strongest since 1995

  • Key4Communications

Retailers sales were down by 1.9% in March compared to last year. This is the biggest annual fall since records began in 1995, according to the report published by the British Retail Consortium (BRC) that measures activity in-store and online. BCR stated that consumers are only making essential purchases despite aggressive discounting from retailers, specially in non-food items. Sales are0 affected by later Easter but mostly by inflation and risks concerning the confirmation of economic recovery.

Inflation fell in February, according to data published today by the Office for National Statistics. Annual inflation fell to 4%, against 4.4% of previous month and expectations of no significant changes.
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