Retail sales jump 4.2%

Retail sales grew for the 28th consecutive month in July, increasing by 4.2% compared with the same month last year, according to official data released today.

This was the longest period of sustained year-on-year growth since May 2008, when there were 31 periods of growth, the Office for National Statistics (ONS) said.

The three-month on three-month movement in the quantity bought showed growth for the 29th consecutive month, increasing by 0.5%. This is the longest period of sustained growth since records began in June 1996.

Retail sales inched up on June 2015, increasing by 0.1%, with increases reported by department stores, ‘other’ stores, household good stores and non-store retailing. This was offset by falls in food stores, textiles, clothing and footwear and petrol stations.

Average store prices fell by 3% during July compared with the same month last year, the 13th consecutive month of year-on-year price falls.

The total amount spent in the retail industry increased by 1% during the month compared with last year, but decreased 0.2% on June.The average weekly spend was £7.1bn, which was unchanged both from the same month last year and when compared with June this year.

Meanwhile, the value of online sales, which accounted for 12.6% of all retail sales, increased by 13% in July compared with July 2014.

Ian Geddes, UK head of retail at Deloitte, said: “With more money in their pockets, consumers are choosing to spend their money on big ticket items.”