UK retail sees worst stretch since 1996BloombergUK retail sales last month fell unexpectedly for a fourth month, the longest stretch of declines in at least 25 years, raising concerns about the economic recovery as a resurgence of COVID-19 cases and supply shortages take a toll. Food sales dropped sharply, as consumers steered spending toward bars, restaurants and entertainment venues that reopened after lockdowns, it said. The fall in sales last month surprised economists, who were predicting a small increase, and sales excluding auto fuel declined 1.2 percent. The only categories that enjoyed an increase in sales were clothing and fuel, as more people returned to offices and traveled for summer holidays. “The near-term outlook for households’ spending is overcast.”Consumer prices rose 3.2 percent in the year to last month, the fastest pace in more than nine years.

Source: Taipei Times September 17, 2021 15:56 UTC