The BRC-KPMG retail sales monitor showed that in March, retail sales rose by 3.1%, half the three-month average growth.
The figures for March show a decline in sales growth, compared to a 13.9% increase in March 2021, which benefited from comparisons on 2020 when non-essential stores closed during lockdown.
Like-for-like retail sales fell by 0.4% in March, compared with 2021, when they rose by 20.3%.
Helen Dickinson, chief executive of the British Retail Consortium, said: “As consumer confidence continued to sink, March saw sales slow, and while spending remained above last year, this likely reflects higher prices.”
Don Williams, retail partner at KPMG, added: “Sales growth in March rose at the slowest rate so far this year, suggesting clouds on the horizon as household budgets come under pressure from rising costs, an increasing tax burden and competition from holidays.”
