U.K. Retailers to Get Inflation Reprieve as Sun Comes Out: Chart
Rising prices have been eating into the purchasing power of U.K. households, darkening the outlook for retail sales. Data on Tuesday is forecast to show consumer-price inflation holding at a four-year high of 2.9 percent in June as weakness in the pound keeps import prices elevated. While that’s denting consumer spending, economists predict sunny weather may have helped retail sales -- to be published Thursday -- rebound from their May plunge.