UK consumer spending slowed in July as wet weather dampened demand for summer clothing, leaving overall retail sales growth well below the rate of inflation, according to data published on Tuesday
The value of retail sales rose at an annual rate of 1.5 per cent in July, a weaker reading than the average of 3.3 per cent in the three months to July, and the 12-month average of 3.9 per cent, figures from the British Retail Consortium trade body and the advisory firm KPMG showed.
The figures are not adjusted for inflation and these growth rates were lower than the rate of increase in consumer prices, which stood at 7.9 per cent in June, indicating that sales fell in volume terms.
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