Retail sales in the United Kingdom have fallen to their lowest level in more than four decades, according to a survey by the Confederation of British Industry (CBI). The CBI data, reported by Al Jazeera, show that the retail sales volume index dropped to -68 in April from -52 in March, marking the weakest reading since the index began in 1983. The decline is attributed to the ongoing war surrounding Iran and rising inflation concerns.

The survey also indicates growing pessimism for May, with the forecast index falling to -60, the lowest since March 2021 during the COVID-19 pandemic. CBI economist Martin Sartorius said the economic impact of the Iran conflict is becoming more evident and urged the government to recognize that reducing living costs requires lowering business expenses. The organization called on the government to ensure new labor laws do not excessively raise employer costs and recommended reducing property taxes and electricity bills.

The survey, conducted between March 26 and April 14 among 61 retail firms, found that weak consumer confidence negatively affected April sales.