UK retail sales dampened by wet weather
July was the sixth wettest on record as the UK missed out on the widespread heat wave hitting the rest of Europe.
This followed a 0.6% increase in June, revised from 0.7% rise previously.
It was the wettest July since 2009 and the sixth heaviest rainfall for the month on record, as the UK missed out on the widespread heat wave hitting the rest of Europe.
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The rainy weather was linked to a dip in clothing sales as footfall was reduced, while the ongoing cost-of-living crisis and rising food prices also acted as a headwind, the ONS figures showed.
Non-food sales were down 1.7% and food store sales volumes decreased by 2.6%.
Charlie Huggins, manager of the Quality Shares Portfolio at Wealth Club, said the retail sales volumes in particular were «worse than expected» and said the big question was whether or not the cost-of-living pressures «are really starting to bite», or were the poor results just down to the weather.
Huggins it was a «bit of both» and said «we probably should not read too much into these weaker than expected figures».
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«With mortgage rates having increased significantly in recent months, it is likely that pressure on consumers will build in the second half,» he said.
Victoria Scholar, head of investment at interactive investor, said that while the weather had decreased footfall, it had boosted e-commerce sales instead and stronger fuel sales helped to offset overall weaknesses in the results.
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