LONDON, May 9 Reuters British retail sales growth held steady in April but high inflation meant shoppers were getting less for their money, and unsettled weather discouraged many from buying summer clothes, a British Retail Consortium survey showed on Tuesday.
The BRC said spending at its members39; stores increased 5.1 in annual terms last month, the same as in March and well above the 0.3 fall a year ago. The figures are not adjusted for inflation, so the rise in sales masked a large drop in volumes.
While retail sales grew in April, overall inflation meant volumes were down for both food and nonfood as customers continued to adjust spending habits, Helen Dickinson, the BRC39;s chief executive, said.
Clothing sales underperformed as the poor weather left customers thinking twice before decking out their summer wardrobe, she added.
Likeforlike retail sales a measure favoured by equity analysts which adjusts for changes in retail space were 5.2 higher on the year, similar to previous months.
The Bank of England has forecast price rises will slow by the end of this year, but British households are currently contending with the highest inflation in western Europe, running at 10.1 in March, more than five times the Bank39;s 2 target.
The BoE is expected to raise the key base rate to 4.5 next week and many economists think it is close to ending its run of rate hikes dating back to December 2021, although it remains concerned about inflationary pressure from the…