Data overnight from the British Retail Consortium showed that last month retail sales fell at their fastest rate since October 2008. Like-for-like overall sales fell by 1 per cent, versus increasing by 1.7 per cent this time last year. Food sales climbed by 2.4 per cent, non-food collapsing by 2.9 per cent ringing alarm bells for sales this Christmas. Separate data from Barclaycard showed that spending grew by less than inflation (2.4 per cent), which is currently running at 3 per cent.
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