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[CC may contain inaccuracies] This is ugly on both the guns and the. Yeah, it's worse than economists had expected for both. And as you say, this is what bad British weather does to retail sales. You can see that the rain played a part because people switched from in-store retailing to online retailing. But also travel got a bit of a boost because people are trying to escape the weather in July. You can also see that the high food prices, even though inflation was decelerating, weighed on volumes and people have cut back on their discretionary spending. But it is significantly the first time in four months that retail sales have fallen short of expectations. So the biggest story is that you can see the Bank of England rate hikes weighing on the consumer. And then that's perhaps why the pound is down the market reading into this economically mobile bump. No, at least in the States. Lizzie, what does it mean that how do you fold this into the other data that we got this week and how it plays into then the next steps from the Bank of England? Well, you did have some economists earlier in the week really emphasizing that unemployment rise in the jobs data. So this ties in to that maybe. But what you have to ask is whether the gloom is enough to stop people asking for pay rises because you also saw that hot wage growth as well. We haven't got a recession yet, so maybe it's not enough to hold them back. Ultimately, this week's data have been a mixed bag. On the one hand, you've got wage growth finally outstripping inflation. The rise in unemployment suggesting that the labour market is loosening. Inflation falling, even if not as much as economists expected. That's the good news column. But the bad news column is more wage growth probably means more inflation down the line. Core inflation stayed the same, services rose, and traders, therefore, are expecting the Bank of England to keep on hiking. So a one in four chance is what traders expect in terms of the September hike for a half point, they're now pricing a peak rate of 6% and that hasn't really changed after the jobs data. And that's a level that our economists reckon will trigger a recession. Okay. We've had a contrasting view certainly on this programme around whether the Bank of England was too slow to hike or whether the hikes they've done already have been a mistake in that actually there's a long lag and policy is already going to be pretty restrictive with those mortgages coming off fixed levels. Lizzie, thank you very much. Thanks for joining us. Lizzie Borden with the latest on the UK economy.