Cost-conscious shoppers curbed spending over the Christmas period adding to the woes of retailers, official figures show
December's retail sales figures reflect the unavoidable logic of inflation; with bills for essentials like food and energy soaring consumers cut back where they can, even if that means cutting back on Christmas.
It was inflation and anxiety about what the New Year holds that kept most hands in pockets however, with the Office for National Statistics citing"continued feedback from retailers and other wider evidence that consumers are cutting back on spending because of increased prices and affordability concerns".
Consumers it seems were more selective and spread their spending through the last three months of the year rather than a last-minute splurge.
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