The soaring cost of living has hit the confidence of British consumers and has “put the brakes” on consumer spending, the latest retail statistics show.
Retail sales dipped in April after a sharp downturn in consumer confidence, according to a report by the BRC-KPMG retail sales monitor.
Total sales fell by 0.3 percent in April, the first decline in 15 months, the report said.
Helen Dickinson, chief executive of the British Retail Consortium, said, “The rising cost of living has crushed consumer confidence and put the brakes on consumer spending.”
She said sales growth has been slowing since January, though the real extent of this decline has been masked by rising inflation.
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