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UK retail sales fall in June

24 Jul 2015

Figures released by the Office for National Statistics (ONS) yesterday showed that retail sales volumes fell by 0.2% in June compared to May. The fall was predominantly due to lower prices in food, household goods and petrol.

However the 3 month on 3 month growth (this representation of the figures tends to smooth out the volatility of the figures) rose by 0.7% - the longest period of sustained growth since records began in June 1996

The figures caused sterling to fall to a one-week low against the euro, but it is still near its high against the euro and most other currencies, meaning that it is acting as a brake on inflation - equivalent to a hike in interest rates

Most economists commented that the monthly fall does not alter the big picture of the consumer recovery remaining intact

For the full ONS release see here

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