The plunge in the value of the pound has caused the cost of food imports to rise, which is being passed on to consumers DENIS CHARLET/AFP/Getty ImagesThe rising price of food and a warm October has led to the first annual fall in retail sales in more than four years, adding to concerns for retailers as they enter the Christmas period. Official figures revealed that sales fell by 0.3 per cent in October compared with the same month last year, marking the first annual drop since March 2013. The fall was led by a 2.2 per cent drop in sales at food shops, according to the Office for National Statistics. The plunge in the value of the pound since the Brexit vote has caused the cost of food imports to rise, which is being passed on to consumers. The UK imports more than half of its food.

Source: The Times November 17, 2017 00:03 UTC