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Retail sales in Great Britain fall as shoppers rein in festive spending

Retail sales in Great Britain fall as shoppers rein in festive spending

Surprise December drop a result of cost of living crisis forcing people to cut budgets in run-up to ChristmasRetail sales in Great Britain fell unexpectedly in December as cost-conscious consumers cut back on spending in the run-up to Christmas in response to higher prices, surging bills and a weak economic backdrop.The Office for National Statistics (ONS) said the surprise 1% decline in sales volumes – economists had forecast a rise of 0.5% – was down to factors including rampant increases in food prices and a fall in online purchases as consumers worried about a wave of postal strikes affecting Christmas deliveries.

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