UK retail sales drop in December

British retail sales fell in December as consumers held onto their cash after snapping up discounted Christmas gifts the previous month, official data showed yesterday. Total sales slid 0.9 per cent compared to November, the Office for National Statistics calculated, with all sectors except food and fuel in decline.

That was slightly worse than analysts’ consensus forecast for a 0.8pc drop. Sales had rebounded 1.3pc in November as shoppers brought forward Christmas spending to bag Black Friday bargains. Recent data from the GfK institute showed that consumer confidence in Britain fell to its lowest level in five years in December, as the purchasing power of wages was eroded by Brexit-fuelled inflation.