Food sales drop at end of barbecue summer
RETAIL sales fell sharply last month, as shoppers lost their appetite for buying food after the end of the summer barbecue season.
Overall sales dropped 0.8 per cent from August, a bigger fall than expected.
Food sales dropped 1.5 per cent – their largest decline for nearly three years, according to the Office for National Statistics.
It comes amid a crisis on the High Street as shoppers head onto the internet instead. But economists said the September sales drop is likely to be temporary as consumers curb post-summer spending.
Hot weather, the World Cup and an end to the income squeeze, triggered by the post-Brexit fall in the pound, all led to strong retail figures earlier in the year. Ian Gilmartin, of Barclays, said: ‘Although the dip in food sales from August is eyecatching, it was expected.’
Meanwhile, record proportions of food (5.8 per cent) and clothing sales (18.2 per cent) took place online.
Inflation fell more than expected to 2.4 per cent last month, while wages are rising by 3.1 per cent at their fastest rate in a decade. This means families’ pay packets are stretching further.