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UK retail sales growth eases in July

U.K. retail sales in July posted a 0.9% hike on a like-for-like basis from June 2016, when sales had risen 1.1% from the preceding year.

On a total basis, sales increased 1.4% in July, against 1.9% in July 2016, data from the British Retail Consortium and KPMG showed Aug. 8.

Food sales supported the growth. Over the three months to June, food sales increased 2.3% on a like-for-like basis and 3.4% on a total basis, stronger against the same three months to July 2016.

Given the increased consumer borrowing and shrinking real wages, "ensuring that prices remain low and choice and confidence remain high lie at the heart of what a fair Brexit for consumers looks like," said Helen Dickinson, chief executive of the British Retail Consortium.

A survey by the Confederation of British Industry noted July 27 that, in the year to July, total sales were slightly above seasonal averages.