British Retail Consortium data

-0.4% y/y

  • expected -0.3%, prior -0.5%
  • smallest annual drop since November 2013

More via Reuters:

  • Shop prices declined last month at the slowest pace since 2013
  • Food prices leading a move upwards
  • "Perhaps the real squeeze in living standards is yet to hit home," said Joe Staton, head of market dynamics at GfK. "We haven't seen any significant fall (in consumer confidence) of the kind we might expect during such periods of pre-election and pre-Brexit uncertainty," he added
  • "We expect the general trend of inflation to be upwards over the course of the year, which will squeeze disposable income at a time when wage growth is slowing," BRC chief executive Helen Dickinson said

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The GfK survey based on 2,000 people

Interviewed between May 1 and May 15.

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Also, data from Lloyds Bank: Business confidence fell sharply in May, to 27 (prior 47)

  • To slightly below its long run average
  • After hitting a 17-month high the previous month
  • Led by a decline in manufacturers' sentiment