December sales bounce due to price rises not shopping sprees, figures show
Retail sales jumped by 6.9% in December but were driven by higher prices rather than people buying more, figures show.
Food and drink sales for December, which includes the key festive period, jumped by 8% in the first Christmas since all Covid restrictions were lifted. Barclaycard, which has published separate figures on consumer spending on credit and debit cards during December, said there was evidence that shoppers had started stocking up for Christmas in November.
But things look set to get tougher now. With credit card bills landing and many consumers coming under more financial pressure from increasing living costs, there's a warning of high street casualties as we head into spring.
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