- Prior +0.7%; revised to +0.6%
- Retail sales -3.2% vs -2.1% y/y expected
- Prior -1.0%; revised to -1.6%
- Retail sales (ex autos, fuel) -1.4% vs -0.7% m/m expected
- Prior +0.8%; revised to +0.7%
- Retail sales (ex autos, fuel) -3.4% vs -2.2% y/y expected
- Prior -0.9%; revised to -1.6%
Those are some pretty bleak numbers and they won't do the BOE any good in trying to balance out economic prospects and tightening monetary policy further in the months ahead. The cost-of-living crisis continues to bite at the UK consumer as the volume of retail sales continue to reflect the struggles, even if value-wise things are holding higher (as seen below). The divergence is largely due to price increases amid high inflation and that says a lot about how the economy is faring.
