General update
Retail sales appear to be falling as the rising cost-of-living bites. Volumes fell by 1.4% in March 2022 following a fall of 0.5% in February 2022. Food store sales volumes fell by 1.1% in March 2022 and have fallen each month since November 2021. Car fuel sales volumes fell by 3.8% in March 2022 with other data sources indicating that some non-essential road travel had been reduced following record high petrol and diesel prices.
Figures from UK Finance have indicated that credit card balances have started to creep up as outstanding balances on credit cards have started to creep up again with balances up 3.8% year-on-year. It will be interesting to determine whether transactions include more purchases for everyday goods and services.
Link: https://www.ukfinance.org.uk/data-and-research/data/cards/card-spending (updated 20/4/2022)
The ONS announces in March 2022 their ‘basket of goods’ and confirmed plans for “scanner data” in headline the Consumer Prices Ind...
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