UK retailers warn sales at risk from soaring cost of living in 2022

Industry says consumer spending is likely to be held back after strong full-year figures for retail in 2021

Britain's retailers have said the soaring cost of living risks dragging down high street sales in 2022 after a bumper Christmas trading period and year of recovery in consumer spending.

Sounding the alarm over the risks for the UK economy as whole, the British Retail Consortium said there were significant headwinds for the industry in 2022 from high inflation, rising energy bills and planned tax increases.