BRC: Retail sales fall in May

| June 7, 2011 | 0 Comments

Higher inflation has led to a fall in retail sales for the month of May, according to the British Retail Consortium (BRC) today.

The fall was also attributed to consumers overspending in April due to the long bank holiday weekends and hot weather.

The BRC said annual like-for-like retail sales fell by 2.1% in May after April’s 5.2% rise.

Sales of clothing, footwear and big ticket items all fell during May but food was “reasonably resilient”, said the BRC.

Furthermore, sales of televisions were poor compared to a year ago when demand was high as a result of the World Cup, and electrical retailers boosted sales with promotions.

Stephen Robertson, the BRC’s director general, comments: “After two previous months distorted by the later Easter and extra bank holiday, this is a more realistic reflection of how tough conditions on the High Street really are.”

In other news today, the Halifax said house prices rose by just 0.1% in May on a monthly basis but are 4.2% lower on an annual basis.

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