Episode Details

Retail sales in Britain dropped 0.4% in February, marking the end of two months of growth, according to ONS data. Supermarkets saw weaker sales, and rainy weather hurt household goods purchases. Consumer confidence plummeted, with the GfK index dropping to -21. Expectations for the economy over the next year fell to -37, the lowest since last year amid fears of rising prices. Higher energy costs are expected to squeeze household budgets, potentially leading to further sales drops and inflation. Retailers like Next are bracing for a hit, with potential price hikes on the horizon.

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