Geoffrey Smith 

Investing.com — U.K. Retail sales dropped for the third consecutive month in March, as consumers feel more confident due to the rising cost of living. 

The February sales fell 1.4%, not the expected 0.3%. February data also showed a 0.5% drop, as opposed to the original 0.3%. This resulted in sales only increasing 0.9% over the previous year. 

Other than sales of fuel and cars, the indices fell 1.1%. Another surprise. 

These data showed a continued reversion back to pre-pandemic spending patterns. Food store sales fell seasonally adjusted for the fourth consecutive month after restrictions on restaurants and pubs were lifted.

Darren Morgan, the Office for National Statistics’s Director of Statistics, also stated that rising fuel prices had had an increase in spending patterns. He saw evidence that people were taking fewer non-essential trips. On the month, fuel sales dropped 3.8%.