The Confederation of British Industry (CBI) revealed that the monthly retail sales balance increased to -27 in August from -43 in July but missed market expectations of -11. This reflects the second-weakest monthly performance since April and the third consecutive month of declining sales.
On a similar note, UK shop prices dropped for the first time since the cost-of-living crisis began, almost three years ago, as food inflation eased and retailers went into sale to shift unmoved summer stock. New data showed prices were down 0.3% in the first week of August, compared with the same period last year.
GBP/USD: the past year
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