UK Shop Sales Unexpectedly Rise In January

February 17, 2023

UK shop sales volumes unexpectedly rose by 0.5% in January, after falling in December, official figures show.

But sales volumes dropped 5.1% compared with January last year, the Office for National Statistics (ONS) said.

Prices have been rising sharply since last year, mainly due to soaring energy costs, which has put pressure on millions of households.

While the rate of inflation is starting to ease, at 10.1% it remains close to a 40-year high.

Online shops were boosted by January sales promotions, the ONS said.

But food store sales fell, as shoppers bought less due to the rising cost of living and high food prices.

Taken as a whole, retail sales volumes are still lower than pre-pandemic levels.

The ONS also said December's fall in retail sales was steeper than previously estimated, as consumers cut spending.

"After December's steep fall, retail sales picked up slightly in January, although the general trend remains one of decline," said Darren Morgan, director of economic statistics at the ONS.

Fuel sales rose, as prices continue to fall at the pumps, while discounting helped boost sales for online retailers as well as jewellers, cosmetic stores and carpet and furnishing shops, Mr Morgan said.

"However, after four months of consecutive growth, clothing store sales fell back sharply," he added.

"Food store sales dipped again with consumers reporting they were selecting lower-priced goods as the increased cost of living and higher food prices continue to bite."

Source: BBC
Image: Pixabay

THE METRO BUSINESS

Insider Tips for Excelling in MSBM’s Online Courses

Strategies for Success: MSBM’s Business Management Insights

Nations are vying to join the BRICS group, according to South Africa, as Russia assumes leadership.

AI-Driven Business Transformation: A Project Management Perspective.

UK Shop Sales Unexpectedly Rise In January

Top Stories

DUP has reached an agreement with the UK government to reinstate power-sharing in Northern Ireland.

Global Trade at Risk: The Implications of Red Sea Ship Attacks on Consumer Goods

UK to lend back Ghana's stolen 'crown jewels,' announces Asante Gold.

Colombia seeks international aid, declaring a wildfire disaster.

Related Posts

Body Shop to shut 75 stores and cut hundreds of jobs

UK Retail Sales Slide Unexpectedly In November

Soaring Cost Of Living: Here Are Tips To Save Money On Your Food Shop

Protect Your Credit Cards This Holiday Season. Here are 5 Tips On Doing So

Courses you might like

Professional Certificate in Fundamentals Of International Sales Contracts

Professional Certificate Course in Understanding Sales and Supply Chain Management

Professional Certificate Course in Legal Considerations in E-Commerce Licencing and Sales