UK retail sales fall in May as cost-of-living squeeze tightens

Overall UK inflation is running at a 40-year high of 9.1% and, according to the Bank of England. Picture: Chris J. Ratcliffe/Bloomberg

British consumers cut back on shopping in May in the face of fast-rising inflation, and an increase in sales in April was revised down sharply, according to data that on Friday provided further evidence of a cost-of-living squeeze.

The Office for National Statistics said May sales volumes fell by 0.5% on the month, a slightly smaller fall than the 0.7% expected by economists polled by Reuters.