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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