Annual pace of retail sales growth slows in January - BRC

Retail sales grew by 1.2% year on year in January, slowing down from growth of 4.2% in January 2023, a survey showed on Tuesday. The figures from the BRC and KPMG showed food sales growth decelerated to 6.3% over the three months to January, down from 8.0% a year prior. Meanwhile, non-food sales fell by 1.8% annually over the three months to January. Helen Dickinson, chief executive of the British Retail Consortium, said: "Easing inflation and weak consumer demand led retail sales growth to slow.”  “While t ...