UK Retail Sales Drop as Inflation Squeezes Consumer Budgets

Retail sales in Great Britain fell 0.9% in September, indicating squeezed consumer budgets due to high inflation. Sales were down across categories like clothing and household goods.

UK consumer confidence dropped to -30 in October, a three-month low, as per GfK's consumer confidence index. Rising costs of living are exerting pressure.

UK public borrowing was £14.3 billion in September, lower than forecast, providing some relief amid economic woes.

Bank of England governor Andrew Bailey predicts a "noticeable drop" in UK inflation in October due to falling energy prices.

The sale of the Telegraph newspapers and The Spectator has formally begun, despite an attempt by the Barclay family to halt the auction.