Retail sales slump in October as cost of living crisis forces shoppers to cut back
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Retail sales fell 0.3% in October to lowest level since 2021 lockdowns as shoppers bought less fuel and food amid cost of living crisis.
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Petrol and diesel sales dropped 2% as fuel prices rose; supermarkets saw increased food sales but specialist food retailers declined.
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Retailers reported consumers buying cheaper products and prioritizing essentials as inflation hit household budgets.
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Sales of alcohol, tobacco, clothing and household goods all declined as consumers cut back on non-essentials.
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Figures emerge ahead of vital Christmas trading period; sales 2.7% lower than last October as sector faces tough conditions.