UK retail sales drop at sharpest rate in forty years
A CBI survey reveals British retail sales volumes fell to a record low in April. Households are cutting spending as the Iran war drives fresh inflation fears.
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Retailers in the United Kingdom have reported the sharpest annual decline in sales volumes in more than four decades, as geopolitical tensions involving Iran trigger significant inflation concerns among households. According to the latest monthly survey from the Confederation of British Industry (CBI), the retail sales volume measure plummeted to -68 in April from -52 in March, marking the lowest reading since the data series began in 1983.
