News & Feeds November 20, 2022

UK retail sales rise but stores could face difficult Christmas

Retailers could face a tough Christmas this year as the soaring cost of living hits households, analysts have warned. Retail sales rose 0.6% in October, latest figures show, but this followed a drop in sales the previous month when shops closed for the Queen’s funeral. Despite October’s rebound, the Office for National Statistics (ONS) said sales remain below pre-pandemic levels. Analysts said October’s rise could be a “false dawn” and the key Christmas trading period could be “difficult”. The UK’s inflation rate, which measures how quickly prices are rising, hit 11.1% in October – the highest for 41 years – and the