UK retail sales rebound in May – CBI survey

UK retail sales rebounded in May after a slump in April, with the Confederation of British Industry reporting a recovery in its monthly retail sales balance to 8 from -44 the previous month, Reuters reported on Tuesday.

The data also indicated the weakest inflation in nearly four years, as reflected in the CBI’s measure of selling price inflation, which was the slowest since August 2020.

Additionally, the British Retail Consortium noted the weakest increase in shop prices in two-and-a-half years this month. Alpesh Paleja, CBI lead economist, expressed optimism about the near-term outlook for retailers, citing falling inflation and continued real wage growth