- Consumer spending on non-food items in the UK remained subdued in March, increasing by a modest 0.9% year-on-year, falling short of the 12-month average.
- Overall UK retail sales rose by 3.6%, primarily driven by an early Easter and inflationary pressures boosting food sales by 6.8%, which skewed total figures.
- The ongoing conflict in the Middle East contributed to heightened consumer caution, impacting sales of travel-related goods and leading some to delay major purchases.
- Essential spending saw a 0.5% growth for the first time since July last year, largely due to rising fuel prices, while discretionary spending growth slowed.
- Despite the cautious spending environment, a Barclays survey indicated that 71% of UK adults remain confident in their ability to manage their finances.
IN FULL
The real reason behind increase in retail sales last month as shoppers remain ‘tepid’ amid Iran war
