LONDON, Nov 8 (Reuters) - British businesses fear a gloomy Christmas ahead, as almost half of households plan to cut festive spending due to the soaring cost of living and sales are already falling sharply in inflation-adjusted terms.
"Christmas will come later than last year for many and there may be more gloom than glitter as families focus on making ends meet, particularly as mortgage payments rise," BRC chief executive Helen Dickinson said.
The BRC's measure of like-for-like sales, which adjusts for changes in retailers' floor space, slowed to 1.2% in October from September's 1.8%.
"The small rise in sales masked a much larger drop in volumes once inflation is accounted for," the BRC said.
Britain's official retail sales data, which cover more shops than the BRC figures and is adjusted for inflation, showed sales volumes excluding fuel dropped 6.2% year-on-year in September.