UK retailers see sales slow as cost pressures rise

Staying thrifty: Shoppers and pedestrians at Oxford Circus in central London. The annual sales growth last month was weaker as households face the biggest cost-of-living squeeze. — Bloomberg

LONDON: British retailers reported weaker annual sales growth last month, reflecting growing pressure on consumer spending as well as seasonal factors around the timing of Easter which typically brings a boost to spending.

The British Retail Consortium (BRC) said total retail spending among its members – mostly large chains and supermarkets – was 3.1% higher than a year earlier, compared with 6.7% annual growth in February.