Retail sales boost of 2.5% ‘barely touching the sides’ of costs, sector warns

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July retail sales were up 2.5% on a year ago but growth is “barely touching the sides” of covering the last budget’s £7 billion in new costs on the sector, bosses have warned.

The uptick in the UK’s total retail sales was against growth of 0.5% last July and the 12-month average growth of 1.9%, according to British Retail Consortium (BRC)-KPMG data.