Retail & Wholesale

It's shop till you drop after prices fall

shopping centre

Figures from the Office for National Statistics have revealed that prices in stores fell by 3.6% in the year to February. It was the biggest fall since 1997, when records began. Cheaper goods helped push retail sales volumes up by 0.7% in the month compared to January, beating expectations of a 0.4% rise. There was also a 5.7% rise in the quantity bought in the retail sector compared with February 2014. Consumers are taking to the high street and buying online to take advantage of lower prices, rising wages and no imminent signs of an interest rate rise. Non-food stores saw the biggest increase in sales by volume, in particular household goods which the ONS said was a lagging effect of last year's improvement in house sales, as people furnished and decorated their new homes.


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