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Annual UK Retail Sales Growth Highest in More Than 14 Years

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British retail sales surged in October, as colder weather boosted clothing sales and supermarkets cashed in from Halloween, lifting annual sales growth to its highest in more than 14 years.

Thursday’s official data reinforce the robust picture of health given by British consumers since June’s vote to leave the European Union, even if the one-off factors lifting demand last month are unlikely to be sustained.

Longer term, the Bank of England and many other economists are concerned that rising prices will reduce households’ disposable income, and Thursday’s figures also showed store prices falling at the slowest pace since July 2014.

Reuters

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Former Craig

Former Craig

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
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