UK data - BRC Like-for-like sales in April fall 1.7% y/y (prior -0.4%)

British Retail Consortium data. Like-for-like sales data strips out the impact of changes in store size.

The 'total' sales data for April from BRC is -0.3% y/y, the first drop since January of 2021

vs. prior +3.7%

"The rising cost of living has crushed consumer confidence and put the brakes on consumer spending," BRC chief executive Helen Dickinson. And added that the

13% jump in global food prices between March and April, pushed up by the war in Ukraine, spelt more trouble ahead for retailers who would be unable to absorb all the extra costs.

Info via Reuters.