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UK retailers report biggest fall in non-food spending since 2009 – BRC

Tuesday, Jan 09 2018
UK retailers report biggest fall in non-food spending since 2009 – BRC

Inflation-squeezed British shoppers cut back on almost everything other than food in the last three months of 2017, leading to the biggest fall in non-grocery spending since 2009, industry figures showed on Tuesday. British inflation rose to its highest in nearly six years in November at 3.1 percent, largely as a result of the pound’s fall after June 2016’s Brexit vote, and many consumer-facing businesses have been coming under increased pressure.

The British Retail Consortium, which represents large chains, said overall spending in the last three months of 2017 rose by a sluggish 1.1 percent, compared with an average annual growth rate of 1.7 percent for 2017 as a whole. “Growth in spending was in line with the average for the year. However, the divergence between growth in sales of food and non-food has never been so stark,” BRC chief executive Helen Dickinson said. Non-food sales fell by 1.4 percent year-on-year in the fourth quarter, the biggest drop since March 2009, while food sales grew by 4.2 percent, the biggest jump since June.

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