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 May 2018, the quantity bought in the retail industry increased by 1.3% when compared with April 2018 with growth across all main sectors.
Feedback from retailers suggested that a sustained period of good weather and Royal Wedding celebrations encouraged spending in food and household goods stores in May.
The quantity bought saw a sharp increase to year-on-year growth in May at 3.9% when compared with April at 1.4%; possibly due to a combination of warm weather and slow year-on-year growth in May 2017 at 0.8%.
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).