Streeting – ONS figures show people are feeling the Brexit squeeze

UK retail sales have fallen for the first time since 2013 in the 12 months to October this year, new figures released today by the Office for National Statistics reveal.

They showed that average retail prices have risen by 3.1%, with food and petrol prices having risen by 3.5% and 3.4% respectively. 

Commenting, Wes Streeting MP, leading supporter of Open Britain and member of the Treasury Select Committee, said: 

“With inflation out-pacing wages, people are feeling the pinch from the Brexit squeeze. This is yet more evidence of how Brexit uncertainty is damaging the economy and hitting people in their pockets

“As Christmas approaches, people will be concerned about what this level of inflation means for spending over the festive period. 

“The Government’s reckless and wrong-headed approach to Brexit is not working. As prices continue to rise and the Government makes a mess of the Brexit talks, people have every right to ask themselves whether the Brexit that is being delivered matches up to what was promised.”

/ends

Notes to editors:

The ONS report is here: https://www.ons.gov.uk/businessindustryandtrade/retailindustry/bulletins/retailsales/october2017