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.
Retail sales volumes only partly recovered in February 2021 with an increase of 2.1% when compared with the 8.2% fall seen in the previous month, and sales were still down by 3.7% on a year earlier before the impact of the coronavirus (COVID-19) pandemic.
Non-food stores provided the largest positive contribution to the monthly growth in February 2021 sales volumes, aided by strong increases of 16.2% and 16.1% in department stores and household goods stores respectively.
Clothing retailers reported the largest fall, of 50.4%, in sales volumes when compared with February 2020 before the coronavirus pandemic; automotive fuel stores also reported a large annual decline of 26.5% as travel restrictions continued to hit sales in that sector.
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).