The British Retail Consortium's +3.4% YoY May retail gain reverses an Easter distortion, not a demand shift. Barclays card data shows real spending still negative, with airline transactions down 12.9% YoY for a third straight month ahead of a 13% Ofgem price cap rise in July.
BRC-KPMG Retail Sales Monitor reports total UK sales up 3.7% year-on-year in May, rebounding from April's decline as a heatwave boosted seasonal demand. Source
