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Gloucestershire Business News

Latest retail figures are announced

Retail sales have fallen as prices have gone up, according to official figures published today.

The Office for National Statistics said retail sales figures for the three months to March showed a decrease of 1.4 per cent, the third consecutive decrease for the underlying three month on three-month pattern.

Average store prices, including fuel, increased by 3.3 per cent on the year, the largest growth since March 2012.

The largest contribution came from petrol stations, where year-on-year average prices rose by 16.4 per cent.

Online sales (excluding automotive fuel) increased year-on-year by 19.5 per cent and by 0.5 per cent on the month, accounting for approximately 15.5 per cent of all retail spending.

Commenting on today's official retail figures, Kate Davies, ONS senior statistician said: "Today's retail sales figures show a decline on the month and on the three months to March, which coincides with quarter one in 2017.

"This is the first time we've seen a quarterly decline since 2013, and it seems to be a consequence of price increases across a whole range of sectors."

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