UK Retail Sales Drop as Inflation Squeezes Consumer Budgets
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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.
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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.
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UK public borrowing was £14.3 billion in September, lower than forecast, providing some relief amid economic woes.
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Bank of England governor Andrew Bailey predicts a "noticeable drop" in UK inflation in October due to falling energy prices.
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The sale of the Telegraph newspapers and The Spectator has formally begun, despite an attempt by the Barclay family to halt the auction.
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