March retail sales jump 4.2%, says ONS

Overage retail sales across the UK rose by 4.2 per cent in March compared with the same period in 2013, and by a more modest 0.1 per cent compared with February 2014, according to the latest figures from the Office of National Statistics (ONS).

Highlights from ONS report:

• In March 2014, the quantity bought in the retail industry increased by 4.2% compared with March 2013 and by 0.1% compared with February 2014. The quantity bought also increased in Q1 2014 compared with Q1 2013, by 3.8%. This continues a pattern of year-on-year growth since early 2013.

• Non-food stores saw the highest year-on-year increase (9.6%) since April 2002. This may partly reflect the negative effect of the very cold weather a year earlier, which was the second coldest March on record, in contrast to the warm weather in March 2014. Food stores, however, saw the largest year-on-year decrease (2.3%) since April 2013 (2.9%).

• In March 2014, the amount spent in the retail industry increased by 3.9% compared with March 2013 and by 0.3% compared with February 2014. Non-seasonally adjusted data show that the average weekly spend in the retail industry in March 2014 was £6.7 billion compared with £6.6 billion in March 2013 and £6.5 billion in February 2014.

• Average prices of goods sold in March 2014 showed deflation of 0.5%; fuel once again provided the greatest contribution, falling by 5.8%. These data are consistent with the Consumer Prices Index (CPI) which was published on 15 April 2014.

• The amount spent online increased by 7.1% in March 2014 compared with March 2013 and by 1.4% compared with February 2014.