UK Retail Sales Growth Slows to 1.6% in July

UK retail sales growth slowed to 1.6% in July, falling short of forecasts and indicating ongoing consumer caution.

The data, released by the Office for National Statistics (ONS), shows that despite summer promotions and warmer weather, which typically boost footfall, the growth rate was softer than expected.

Analysts noted that the miss could increase pressure on the Bank of England to consider rate cuts sooner than previously anticipated, but some economists caution that one month's data does not establish a clear trend.