British retail sales rise 0.5% in August

The data confirmed that UK retail sales increased by 0.5% in August, despite the rises in fuel prices resulting from the war with Iran. The growth was driven by online sales and large retail stores, with a strong increase in clothing and food sales, while fuel sales declined by 1.3%. Despite this increase, the Bank of England warned of the possibility of raising interest rates if inflationary pressures caused by the war continue. Meanwhile, the sales growth forecast during the American holiday season remains at 4.8%.

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