Retail sales slump 2% as cost-of-living challenge keeps spending tight

Retail sales fell in February as high interest rates and pinched households budgets saw consumers cut back spending on cars, clothes and in department stores.

Excluding car sales, the volume of sale was unchanged in the month and rose by 0.7 per cent in the year. Monthly volume increases were recorded in bars , hardware, paints and glass , and non-specialised stores .

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