Retail sales enjoy surprise jump
Thursday, 19 August 2010 12:00
High street sales enjoyed an unexpectedly strong July, climbing by 1.3 per cent year-on-year.
The figure from the Office for National Statistics (ONS) is way ahead of analysts' forecast of a 0.4 per cent rise in trade.
Sales volumes at stores predominantly selling food items were 1.7 per cent down compared with July 2009, but non-food stores recorded 4.1 per cent growth over the same period.
The total value of high street business during the month was 2.8 per cent higher year-on-year, standing at £24.9 billion.
Sales at predominantly food stores were worth 0.8 per cent more compared with 12 months earlier, while the value of non-food sales was up 3.7 per cent.
Purchases made over the internet were worth some £446 million during July, accounting for around eight per cent of total retail business, the ONS noted.
Prices on the high street were estimated to have climbed by 1.5 per cent compared with July 2009. This was below the annual rate of consumer prices index inflation, which stood at 3.1 per cent last month.
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