Brexit: UK retailers experience further fall in sales as living costs rise
Retail sales in the UK have fallen for the third month in a row as a post Brexit referendum rise in the cost of living appears to be affecting consumer spending.
Food inflation in the UK increased 1pc in March, the sharpest inflationary rise since February 2014 according to the British Retail Consortium (BRC).
Fresh food in the UK was also the victim of inflation, up 0.8pc from February.
“Global food commodity costs have risen by 17pc on average over last year’s figures, building substantial pressure in the food supply chain,” Helen Dickinson OBE, Chief Executive, BRC said.
The consortium also issued a warning on any post Brexit trade agreement saying that continued value for consumers through “tariff-free trade must be at the heart of plans for a smart Brexit”.
The BRC did caution that the figures may be distorted with Easter falling late this year.