Retail sales hit lowest level since 2021 lockdowns
Shoppers bought less fuel and food in October as they were hit by rising living costs and poor weather, according to official figures. The volume of products sold last month fell by 0.3% to the lowest level since February 2021 when large parts of the UK were in Covid lockdowns. Retail sales had widely been forecast to grow in October. The worse-than-expected data emerged as recent figures showed the UK economy was failing to grow. Gross domestic product - the amount of the goods and services produced by the UK - flatlined between July and September and the Bank of England expects only subdued growth until 2025. Next week, Chancellor Jeremy Hunt will make his Autumn Statement when he will set out the government's tax and spending plans and his strategy to grow the economy. Commenting on the latest data, the Office for National Statistics said petrol and diesel sales may have been "affected by increasing fuel prices". Demand for other goods was also lower, said ...