Retail sales bounce back in January
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UK retail sales saw a year-on-year increase of 4.8% in January, the highest jump since December 2016.
Figures from the Office for National Statistics (ONS) showed that sales volumes rose by 1% following a 0.7% decline in December. The average store prices slowed to 0.4% year-on-year, the lowest price increase since November 2016.
Online retail didn’t perform as well decreasing to 18.8% in January 2019, from the 19.8% reported in December 2018.
The quantity bought in textile, clothing and footwear stores showed strong year-on-year growth at 5.5% as stores took advantage of January sales, with a year-on-year price fall of 0.9%. Although food store prices saw a general slowdown in 2018, the quantity bought in January 2019 returned to the growth experienced in the summer months at 3.2%.
ONS statistician, Rhian Murphy, said: “Clothing stores saw strong sales, luring consumers with price reductions, with food sales also growing after a slight dip after Christmas.”
