Heatwaves helped high street claw back ground over summer… but shops warn of looming inflation pain
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By JAMES TAPSFIELD, UK POLITICAL EDITOR
Published: | Updated:
Heatwaves helped the high street claw back ground over the summer, official figures revealed today.
Retail sales volumes were up 0.5 per cent in August, following a 0.5 per cent drop in July. Over the three months from June the level is up 0.9 per cent.
The Office for National Statistics pointed out that supermarkets had performed well, with Brits seemingly splashing out on booze and barbecues while enjoying the World Cup. Air-conditioned department stores also gained ground.
However, businesses have warned that storm clouds are gathering heading into autumn, with an inflation spike from the ongoing chaos in the Middle East.
ONS senior statistician Jon Gough said: 'Retail sales increased in the latest three months, with a particularly strong June for online outlets helping to boost their sales across the period. Food store sales also rose, with supermarkets doing well in July and August.
Retail sales volumes were up 0.5 per cent in August, following a 0.5 per cent drop in July. Over the three months from June the level is up 0.9 per cent
Hot weather over the summer seemed to help retailers
'Meanwhile, retailers selling alcohol and beverages performed well across all three months, which they attributed to promotions, the hot weather and the World Cup.'
The performance in August was stronger than the 0.2 per cent analysts had anticipated.
The ONS said stronger trading by non-store retailers - mainly online firms - helped to support the uptick.
Their sales volumes lifted by 1.7 per cent compared to July.
The figures also showed a recovery in sales from department stores, lifting to a three-month high of 1.8 per cent for the month after firms had said 'stock availability issues' weighed on trading in July.
Andy Carlisle of Accenture said: 'Despite a recovery from a fall in July, retail sales in August will come as a slight disappointment to retailers hoping for a stronger finish to the summer.
'Spending lost momentum as the boost from the earlier hot weather faded, and rising household costs encouraged shoppers to tighten their purse strings, with demand for food and essentials failing to translate into broader growth across the sector.
'There are some challenging headwinds for consumers to navigate as we head into autumn.
'Higher energy bills, food, fuel and transport prices continue to weigh on purse strings.
'We're beginning to see consumers preparing for these pressures, prioritising everyday needs while showing greater caution around discretionary and bigger-ticket purchases.'
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