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 December 2020, retail sales volumes increased by 0.3% when compared with November 2020, resulting in an increase of 2.7% when compared with February's pre-lockdown level.
Clothing stores reported strong monthly growth of 21.5%, rebounding from a large fall in November 2020 when stores were closed because of coronavirus (COVID-19) restrictions.
The year-on-year growth rate in the volume of retail sales increased by 2.9% when compared with December 2019; non-store retailers reported the largest year-on-year growth at 43.5% while food stores also saw strong annual growth of 4.4%.
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).