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The Office for National Statistics (ONS) released the retail sales. The U.K. retail sales dropped 0.5% in May, in line with forecasts, after a 1.3% gain in April. That was the first drop since January.
On a yearly basis, retail sales in the U.K. climbed 3.9% in May, missing expectations for a 4.2% increase, after a 6.9% gain in April.
The ONS pointed out the decline would have been even bigger had it not been for strong sales in sports stores driven by football shirt sales ahead of the World Cup.
A drop in prices in stores could not help to increase the retail sales volume.
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