LONDON (Reuters) -A downturn in British retail sales entered its 11th consecutive month in August and shops raised their prices by the most since late 2023, a Confederation of British Industry survey showed on Wednesday.

The CBI’s monthly gauge of how retail sales compared with a year earlier was little changed at -32 from July’s -34 but better than a dip to -46 in June. The outlook for September improved to -16.

“Weak demand and higher labour costs continue to put pressure on margins, dampening sentiment across the retail and wider distribution sector,” Martin Sartorius, principal economist at the CBI said.

“This downbeat outlook is reflected in firms’ plans to scale back investment and hiring,” he said.

Many employers have said they are feeling the strain from a decision by finance m

See Full Page