UK retail spending growth slowed to 1% in May, the lowest rate this year, raising concerns about consumer resilience amid rising inflation. The British Retail Consortium noted a decline in spending on non-food items due to lower consumer confidence, although food sales remained stable, bolstered by major football tournaments. Meanwhile, Barclays reported a similar trend in consumer credit, highlighting that shoppers are becoming more value-conscious, balancing essential spending with small luxuries as economic uncertainty persists.
