Annual UK Retail Sales Growth Highest in More Than 14 Years

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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Craig Erlam
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.