LONDON, May 26 (Reuters) – British retail sales rose by 0.5% in April from March, figures from the Office for National Statistics showed on Friday.
Economists polled by Reuters had forecast that sales volumes would rise by 0.3% on the month.
Retail sales volumes in April were 3.0% lower than a year earlier.
The Reuters poll had pointed to a fall of 2.8% in sales volumes on an annual basis.
Britain’s surge in inflation has hit the spending power of households in Britain. Although the pace of price growth slowed to 8.7% in April from 10.1% in March, according to data published earlier this week, the fall was smaller than expected.
Bank of England Governor Andrew Bailey said on Wednesday that he feared inflation could prove “sticky and stubborn” in the months ahead.
Obviously good news, but those polled expected a lower monthly rise but a smaller annual fall? I’m not sure how that adds up.
Doesn’t this mean that sales hae fallen?
If prices have raised at 10% on average shouldn’t this match that? In which case sales haven’t grown people are just spending more.
If its only gone up by 0.5% isnt that like a 9% fall in volume?
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LONDON, May 26 (Reuters) – British retail sales rose by 0.5% in April from March, figures from the Office for National Statistics showed on Friday.
Economists polled by Reuters had forecast that sales volumes would rise by 0.3% on the month.
Retail sales volumes in April were 3.0% lower than a year earlier.
The Reuters poll had pointed to a fall of 2.8% in sales volumes on an annual basis.
Britain’s surge in inflation has hit the spending power of households in Britain. Although the pace of price growth slowed to 8.7% in April from 10.1% in March, according to data published earlier this week, the fall was smaller than expected.
Bank of England Governor Andrew Bailey said on Wednesday that he feared inflation could prove “sticky and stubborn” in the months ahead.
Obviously good news, but those polled expected a lower monthly rise but a smaller annual fall? I’m not sure how that adds up.
Doesn’t this mean that sales hae fallen?
If prices have raised at 10% on average shouldn’t this match that? In which case sales haven’t grown people are just spending more.
If its only gone up by 0.5% isnt that like a 9% fall in volume?