LONDON (Reuters] – British retail sales fell more than anticipated in March due to the rise in inflation, data released Friday showed. This is a warning sign about the economy’s future.

Retail sales volumes fell 1.4% in March compared to February. This is worse than what any economist predicted in a Reuters poll. It was 0.3% lower than expected, the Office for National Statistics stated.

Sales of petrol and food fell dramatically in the last month, with the ONS noting rising prices as possible reasons.

Also, online retail sales have declined.

The survey, published Friday morning by the Consumer Confidence Survey, showed consumers’ confidence at their lowest level in nearly 50 year since records were first kept.

Andrew Bailey, Bank of England Governor, stated that British central banks were trying to balance the two goals of tackling inflation with avoiding recession.

Tesco (OTC), Britain’s most popular retailer, warned this month that profits would drop as inflation pressures both the company and its customers.