Retail sales in the UK: Why they didn't grow

Hello to you, young reader of the little AutoNews! Today, we will talk about retail sales in the UK.

Retail Sales in the UK

Retail sales are when people buy things from stores. In July, the sales didn't grow very much. In fact, they only grew by 1.5%. This is not a lot compared to last year when they grew by 2.3%. One reason for this is because the weather in July was very wet. When it's wet, people don't want to buy summer clothes. They also don't want to go out and shop. Instead, they stay at home. Because of this, the stores had to lower their prices to try to get people to come and buy things.

Rising Inflation

Another reason why sales didn't grow very much is because the prices of things are going up. This is called inflation. Inflation means that things are getting more expensive. Right now, inflation is at 7.9%. This means that the things you buy are getting more expensive. When people see that prices are going up, they don't want to spend as much money. They want to save their money instead. Word of the day:

Saving Money

Saving money means putting some of your money aside instead of spending it. When things are getting more expensive, like they are now with inflation, it is a good idea to save your money. Saving money helps you have money for the future when you might need it for something important. It's like keeping your treats for later instead of eating them all at once. See you soon for new articles!