Shoppers in the UK bought less fuel and food in October as they were hit by rising living costs and poor weather, according to recent figures released by Office For National Statistics.
The volume of products sold last month fell by 0.3% to the lowest level since February 2021 when large parts of the UK were in Covid lockdowns Retail sales had widely been forecast to grow in October.
Gross domestic product – the amount of the goods and services produced by the UK – flatlined between July and September and the Bank of England expects only subdued growth until 2025.
Commenting on the latest data, the ONS said petrol and diesel sales may have been “affected by increasing fuel prices”. Demand for other goods was also lower, said the ONS.