Sales by retailers in Great Britain directly to end consumers, including spending on goods (in store and online) (Retail Sales Index) and spending on services (Index of Services). The industry as a whole is used as an indicator of how the wider economy is performing and the strength of consumer spending.
In February 2018, the quantity bought in retail sales increased by 0.8% when compared with the previous month, with increases seen across all main sectors except non-food stores.
The monthly increase to the quantity bought follows two monthly declines in December and January, resulting in an overall decrease of 0.4% in the three months to February.
The year-on-year growth rate increased by 1.5% following a general slowdown when compared with an increase of 3.3% in February 2017; however, this stabilised in recent months as we see little movement in the year-on-year growth since November 2017.
The purpose of this article is to give the estimated impact of implementing measures announced in the March 2016 budget, previous budgets and pre-budget reports on the Consumer Prices Index (CPI), CPIH - a measure which includes owner occupiers’ housing costs, and the Retail Prices Index (RPI).