(MENAFN) As shown by data issued by the Office for National Statistics (ONS) the UK's retail sales capacity yearly dropped 4.7 percent last month, against the same month of 2021.
While the market evaluation stood at 4.5 percent decrease, retail sales volume yearly dropped 4.9 percent in April.
On a monthly basis, the volume of retail sales dropped 0.5 percent last month from the month before.
The market estimate was a monthly decline of 0.7 percent for May, while the April number was revised down to a monthly surge of 0.4 percent from an increase of 1.4 percent.
The ONS stated that regardless of the decrease, retail sales volumes were standing at 2.6 percent over their pre-coronavirus rates of February two years ago.
ONS stated in an announcement that "In the three months to May 2022, sales volumes fell by 1.3 percent when compared with the previous three months; this continues the downward trend since summer 2021."
Adding "The fall in sales volumes over the month was because of food stores, which fell by 1.6 percent; reduced spending in food stores seems to be linked to the impact of rising food prices and the cost of living."
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