UK retail sales volume declined -1.0% mom in December, much worse than expectation of 0.4% mom. Ex-fuel sales dropped -1.1% mom, below expectation of 0.4% mom. Sales value decreased -1.2% mom while ex-fuel sales value declined -1.0% mom.
Between 2021 and 2022, retail sales volume fell by -3.0%, “as the lifting of restrictions on hospitality led to a return to eating out, and rising prices and the cost of living affected sales volumes.”
