Sales plummet as cost of living squeeze hits consumers

The Office for National Statistics (ONS) say retail sales fell by 1.4 per cent throughout March, suggesting that British shoppers are restricting their spending as household bills were set to rise from April.

Food, footwear, clothing and fuel sales all fell, and online sales also decreased. However household goods purchases did rise.

A separate ONS survey concluded that 87 per cent of UK adults underwent a cost of living hike over the last month, up from 83 per cent. Around 88 per cent said rising food prices were responsible for their spending increases.

Darren Morgan of the ONS said via Twitter: “Retail sales fell back notably in March with rises in the cost of living hitting consumers’ spending. Online sales were hit particularly hard due to lower levels of discretionary spending.

“Fuel sales also fell substantially, with evidence suggesting some people reduced non-essential journeys, following record high petrol prices, while food sales continued to fall, dropping for the fifth consecutive month.”