Retail sales warm up in Great Britain as shoppers spend more on food

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The hottest June on record gave an unexpected boost to retail sales last month, with households in Great Britain buying more food and furniture despite continued pressure on budgets.

Article originally published by The Guardian. Hargreaves Lansdown is not responsible for its content or accuracy and may not share the author's views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest.

Published by

21 Jul 2023

Officials figures showed that the quantity of goods bought rose 0.7% month on month, much higher than average analyst forecasts of a 0.2% bump in sales volumes, with most retailers reporting purchases were up, aside from petrol and diesel sellers.

That is a bounceback from the mere 0.1% monthly rise in retail sales in May, a figure that has been revised down from initial estimates of 0.3%.

Supermarkets were one of the biggest drivers of consumer spending, with food sales benefiting from discounts and rising temperatures. Food stores, which had experienced a 0.4% drop in May, bounced back with a 0.7% rise in sales in June, according to the Office for National Statistics (ONS).

The hotter weather also encouraged more people to hit the high street, leading to higher sales at department stores and on furniture. Shoppers also turned to secondhand goods,