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Retail sales are falling at a rate “not seen since the depths of the pandemic”, as price rises hit households across the nation, new figures have shown.
Inflation hit 9.1% in May, its highest rate in 40 years, with the increasing cost of food, energy bills and fuel putting pressure on households’ finances.
The volume of retail sales declined for the third consecutive month in June, falling at an annual rate of 1%, according to figures compiled by KPMG and the British Retail Consortium.
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