Pound hits new 37-year low as retail sales slide

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Weaker-than-expected sales figures send sterling lower as fears grow for the strength of the economy.

Higher prices, along with upcoming energy bill rises in October, have led households to tighten their belts when it comes to spending.

Typical energy bills were set to rise to £3,549 a year and even higher in 2023, before the government intervened. "However, real household incomes are still on course for a significant fall over the next 12 months or so," he added. The fall in retail sales continues the slide since the summer of 2021, when all Covid restrictions were removed, the Office for National Statistics said. The drop seen in August was the largest month-on-month fall since December 2021.Supermarkets' sales volumes also fell by 0.9% in August, but alcohol and tobacco sales rose by 6.3%.

 

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And will fall even more Monday while we mourn privileged royalty 🙄

ToriesDestroyingOurCountry CostOfGreedCrisis CostOfLivingCrisis Energy energybills foodbanks poverty WindfallTax TaxTheRich CEOGreed CorporateGreed inflation ExchangeRate AbolishTheMonarchy

And this is why, we'll l never have a strong economy if the government keep making the people poorer

Isn’t this kind of obvious? We are in a cost of living crisis, ppl are having to choose between heat or food. Why would you think they would be out shopping for anything thats not essential 🫤

No shit

Anyone know if retail sales include Petrol retail sales

The ‘ditch the box’ show continues

In other news:

Coz everyone is still going on holidays!! 👍 🌞🍻

The country/economy/society won’t fully recover from the lockdowns for at least a decade. And remember it was all for a coronavirus, a cold less deadly than the flu, that’s why the average age of *WITH* fatalities was at or higher than average life expectancy.

And where’s our government

So more businesses will fail. Thanks Boris

Only the begining, sanctions are the hill our government (and opposition) want us to die on.

Trussonomics 🤪

Ya don't say.

No shit Einstein

Well duh!

🙂

Ouch.

BBC on 🔥 today. Sir Robbie Gibb busy elsewhere methinks.

Shopping in towns and cities have fallen but I bet amazon and online shopping is still high

Meanwhile in the UK: The King is yelling at pens, the Prime Minister is a cheese rambling buffoon, and a recession is imminent

Well DUH

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