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UK retail sales fall back in February ahead of Iran war impact
UK retail sales volumes fell 0.4% in February as consumers cut spending amid rising oil prices and energy costs linked to the Iran conflict, ONS data showed.
- Average UK mortgage rates climbed above 5 per cent in March 2026, the highest figure in seven months, as the Iran conflict forced lenders to withdraw hundreds of residential products.
- Rising swap rates and geopolitical instability caused the Bank of England to hold the Bank Rate at 3.75 per cent, ending market hopes for an early March cut.
- The Financial Conduct Authority estimates one million fixed-rate deals will expire by September, while Lodestone Mortgages founder Craig Fish warned inflation could prove "stickier than the Bank of England had hoped" if conflict persists.
- Mark Harris, chief executive of SPF Private Clients, advises borrowers seeking mortgages in coming weeks to secure products now, allowing them to switch to cheaper deals if rates fall later.
- Despite recent increases, JLL director of UK residential research Marcus Dixon said rates "remain more competitive than borrowers could secure this time last year," positioning 2026 for steady improvement over 18 months.
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UK retail sales fall back in February ahead of Iran war impact
British retail sales fell in February after the strongest growth in a year and a half in January, official figures showed on Friday, ahead of a likely hit in March as higher oil prices caused by the Iran war sap households' disposable income.
·United Kingdom
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Retail sales dip amid wet weather and weaker supermarket trading
The Office for National Statistics (ONS) said the total volume of retail sales, which measures the quantity bought, fell by 0.4% last month. UK retail sales decreased in February as supermarket sales slipped and demand for household goods was impacted by wet weather, according to official figures. The Office for National Statistics (ONS) said the total volume of retail sales, which measures the quantity bought, fell by 0.4% last month. It compar…
Coverage Details
Total News Sources20
Leaning Left4Leaning Right1Center4Last UpdatedBias Distribution45% Left, 44% Center
Bias Distribution
- 45% of the sources lean Left, 44% of the sources are Center
45% Left
L 45%
C 44%
11%
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