'Black cloud' for retailers ahead of Christmas as spending drops at fastest rate in 4 years

Business Insider -

Business Insider—Visa/IHS Markit data shows 2% decline in October consumer spending, fastest drop since September 2013. High Street sales down 5% and clothing sales down 9%. Separate BRC/Springboard survey finds 2% decline in "footfall" on UK High Streets in October, which Springboard exec calls "a black trading cloud." LONDON — Concerns about retail sales over the crucial Christmas period have been heightened by new figures showing a big slump in spending in October. IHS Markit and Visa's UK consumer spending...

Supermarket prices are rising at the fastest rate in 4 years as Brexit hits shoppers hard. Grocery prices increased 3.4% in the last quarter as Brexit driven inflation continues to bite. "Prices are rising fastest in markets such as butter, fish and cola," market research firm Kantar Worldpanel said. Lidl and Aldi continue to grow rapidly, with Lidl Britain’s fastest growing supermarket for the fifth consecutive quarter. LONDON — Grocery prices are rising at their fastest rate in four years as the growing cost of imports since the Brexit vote forces retailers to increase prices,...