UK retail sales grew more strongly than expected in February, up 0.7% compared with the previous month, according to the Office for National Statistics.
Compared with February 2014, sales were 5.7% higher, boosted by the recovery in the housing market, the ONS said.
Rising home sales boosted purchases of products such as furniture.
Average store prices fell for the eighth consecutive month, falling by 3.6% in February 2015 compared with a year earlier.
The largest contribution to the drop in prices came from the slide in fuel prices, which fell more than 15% over the year to February 2015.
via BBC
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.