More people entertaining at home as cost of living bites

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More people entertaining at home as cost of living bites
United Kingdom Latest News,United Kingdom Headlines
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Inflation - the rate at which prices are rising - is up 10.4% in the last year

Sales of home accessories and furniture jumped during the month, however, seeing the strongest growth of any category, according to the BRC and accountancy firm KPMG.

"We will see consumers having to further cut back on discretionary spending," he said. "Consumers will continue to take steps to reduce spend where they can - switching where they shop, what they buy, and spending on fewer items."Meanwhile, retail research firm IGD said that as food prices continued to rise, grocers would look for other ways to satisfy customers.

Despite the challenges, the BRC said consumer confidence was "edging up", while big events such as the King's coronation in May were likely to boost retailers.

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