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UK retail sales show higher than expected increase in July

Staff Writer |
New UK retail sales figures show a higher than expected increase in July of 5.9%, prompting an immediate lift to the strength of the pound.

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The rise, which is significantly up on June’s 4.3% increase, is largely driven by non-food sales, however, according to figures released by the Office of National Statistics (ONS).

“Compared with June 2016, the quantity bought increased by 1.4%,” said ONS, adding that while all sectors showed growth during the month, the main contribution again came from non-food stores.

On sales value, however, the ONS figures show average store prices including petrol stations are now 2% below where they were in July 2015, while the rate of price fall over the last month is put at 0.8%.

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