UK retail sales recover only partially in October

British retail sales staged only a partial rebound last month after shops closed in September for the funeral of Queen Elizabeth, and they remained below their pre-pandemic level as soaring inflation hits spending power. The ONS said retail sales volumes remained 0.6% lower than their pre-pandemic level.

British retail sales staged only a partial rebound last month after shops closed in September for the funeral of Queen Elizabeth, and they remained below their pre-pandemic level as soaring inflation hits spending power. Retail sales volumes rose in October by 0.6% month-on-month, following a 1.5% drop in September.

A Reuters poll of economists had pointed to a 0.3% rise from September when Britain held a one-off public holiday to mark the funeral of the queen which was observed by many businesses including retailers. The ONS said retail sales volumes remained 0.6% lower than their pre-pandemic level.