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UK Jan retail sales rose more than expected


UK Jan retail sales rose more than expected


From Dow Jones:

“U.K. retail sales volume rose more than expected in January, official data showed Friday, as weaker inflation alleviated the squeeze on shoppers’ disposable incomes.
The volume of retail sales including automotive fuel rose 0.9% from December and was 2% higher than in January last year, the Office for National Statistics said.
The figures were stronger than expected with economists expecting sales to fall 0.4% compared with the previous month, and be 0.4% higher on an annual basis, according to a Dow Jones Newswires survey.
The implied price deflator, which estimates store price inflation, slowed in January to 2.2% on an annual basis from 2.5% in December–the lowest rate since November 2009. The fall is welcome news for Britons who seen their incomes squeezed by a combination of high inflation and muted wage growth.
The detail of Friday’s data show that the increase in sales volumes was driven by a 5.9% monthly increase in sales in the ‘other stores’ category, which includes chemists, computer stores, bookshops, sports shops, and jewelry stores. An ONS official said sales at sports shops were particularly strong in January.
Sales from household goods stores were also strong, rising 4.8% on the year.”

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