UK retail sales slowed at the start of the year as consumers tightened their purse strings in another sign of tepid economic demand. Total sales increased 1.2% in January, compared with a three-month average of 1.9%, the British Retail Consortium and consultancy KPMG said Tuesday. The figures are not adjusted for inflation, which was 4% at the end of last year. “Easing inflation and weak consumer demand led retail sales growth to slow,” said Helen Dickinson, chief executive officer of the BRC. “While the January sales helped to boost spending in the first two weeks, this did not sustain throughout the month.” Sales ... (full story)