High street sales rise despite high inflation and surging interest rates in boost for beleaguered retailers
- Sales rose by a better than expected 0.5 per cent, having a fallen by 1.2 per cent
- Supermarkets were among the retailers that saw sales volumes grow last month
Shoppers returned to the high street last month to set the tills ringing for jewellers, sports shops and department stores – helping the retail sector bounce back after a rain-dampened March.
Sales rose by a better than expected 0.5 per cent, having a fallen by 1.2 per cent the month before, according to the Office for National Statistics (ONS).
The figures offer further evidence that UK consumers remain resilient despite stubbornly high inflation and surging interest rates.
They point to a buoyant spring for the high street as sales for the three months to April were up by 0.8 per cent on the previous three months, the biggest such increase since August 2021.
Supermarkets were among the retailers that saw sales volumes grow last month, after they fell in March – despite food inflation at around the highest rate in more than four decades.
The figures offer further evidence that UK consumers remain resilient despite stubbornly high inflation and surging interest rates
However this was partly offset by falling fuel sales.
Oliver Vernon-Harcourt, head of retail at Deloitte, said: ‘April saw a surprising uplift in retail sales despite ongoing inflationary pressures.
‘The economic environment remains incredibly tough for many, but consumer confidence is slowly improving from record lows seen in the past year.’
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