UK retailers book best July since 2006

Like-for-like retail sales in the UK rose 2.2% last month and overall sales increased 3.9% as the heatwave spurred Britain's consumers to spend on cookout food and summer clothing, according to the British Retail Consortium and KPMG. "Markedly improved consumer confidence and elevated employment currently seems to be underpinning decent retail sales, despite the squeeze on purchasing power coming from inflation running well above inflation," said economist Howard Archer.

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