British retailers report record retail sales decline amid Iran war inflation fears
Updated
Updated · Reuters · Apr 27
British retailers report record retail sales decline amid Iran war inflation fears
8 articles · Updated · Reuters · Apr 27
The CBI retail sales volume measure fell to -68 in April, its lowest since 1983, with 77% of firms reporting year-on-year declines and only 9% seeing increases.
Expectations for May worsened to -60, the weakest since March 2021, as consumer confidence and spending dropped sharply following the Iran conflict and closure of the Strait of Hormuz.
Retailers are urging the UK government to ease cost pressures, while broader surveys show falling consumer confidence and manufacturer optimism amid ongoing global uncertainties and elevated operating costs.
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