In May, retail sales in the UK decreased by 0.5% compared to the previous month, according to data from the country’s National Statistics Office (ONS).

The consensus forecast of experts surveyed by Bloomberg provided for a decrease in the indicator by 0.7%. Respondents Trading Economics also predicted its decrease by 0.7%.

In annual terms, sales fell by 4.7%. Analysts expected a decrease of 4.5%.

In April, UK retail sales rose 0.4% month-on-month and fell 5.7% year-on-year, according to revised data.

Despite the decline, retail sales last month were 2.6% higher than in pre-pandemic February 2020, the ONS said.

The month-on-month decline in retail sales in May was due to lower grocery store sales, down 1.6%, the ONS said. The decline in spending on food is likely due to higher food prices as well as the cost of living.

Motor fuel sales increased by 1.1%.

UK retail sales excluding motor fuel in May fell 0.7% from April, when a 1.4% increase was recorded, and fell 5.7% year-on-year after falling 6.9% a month earlier.