UK retail sales grew 0.8% mom in October, above expectation of 0.5% mom. Ex-fuel sales jumped 1.6% mom, above expectation of 0.2% mom.
However, over the three months to October, sales volumes dropped -2.3% when compared with the previous three months. Compared with the same period a year earlier, sales volumes over the last three months dropped -0.5%.
Retail sales values, unadjusted for price changes, rose by 1.6% in October 2021, following an increase of 0.2% in September. Over the last three months to October 2021, the value of sales was up 3.3% on the same period a year earlier, reflecting an annual retail sales implied price deflator of 3.8%.
