- Prior +1.3%; revised to +1.4%
- Retail sales -2.4% vs +1.1% y/y expected
- Prior +0.1%; revised to +0.2%
- Retail sales (ex autos, fuel) -3.3% vs -0.6% m/m expected
- Prior +1.3%; revised to +1.5%
- Retail sales (ex autos, fuel) -2.1% vs +1.3% y/y expected
- Prior +0.3%; revised to +0.5%
The pound is dragged lower as once again, UK retail sales disappoint heavily with a major plunge to wrap up the year. All major categories were lower on the month, with food stores sales down 1.2%, non-food stores sales down 1.5%, non-store retailing down 0.3%, and fuel sales down 0.2% in December.
All of this just reaffirms that high inflation remains a problem for UK households, something highlighted last month here: UK retail sales beat masks the greater pain that households are facing
