Business

UK retail sales surge despite inflation surge

As shoppers bought more clothing, drinks and cigarettes, UK retail sales increased unexpectedly, alleviating concerns about the impact of the UK’s economic recovery and rising inflation.

According to data released on Friday by the Office for National Statistics, the volume of goods purchased in the UK increased by 1.4% between March and April, partially reversing the decline in the last two months. Reuters poll economists expected it to fall 0.2% this month.

UK consumer confidence has jumped to its 40-year high of 9%, the lowest level since its record began in 1974, according to another data released earlier Friday by research firm GfK. I was depressed.

Heather Bovill, Deputy Director of ONS, said: Surveys and economic indicators.

“Clothing sales are particularly strong online, with some retailers suggesting that consumers are buying clothing for summer vacations and weddings,” she added.

Grocery store sales increased 2.8%. This is mainly due to increased spending on alcohol and tobacco in supermarkets.

Non-store sales, primarily online-only retailers, increased 3.7%, driven by increased clothing sales.

Vehicle fuel sales increased 1.4%, following a 4.2% slide in March when record rises in gasoline prices hit demand.

UK retail sales surge despite inflation surge

Source link UK retail sales surge despite inflation surge

Back to top button