Retail sales beat expectations

Retail sales in Britain grew 1.1% between June and July according to the Office for National Statistics (ONS), beating analyst forecasts of a 0.4% monthly rise.

Year-on-year, the volume of retail sales in July was 1.3% higher than the same month last year, while sales volumes from May to July rose 1.7% compared with the same time period last year.

In terms of the growth in monthly sales, the ONS says while food store sales fell 1%, non-food stores increased by 4.1%. Within non-food stores, it says there were rises across all sectors, the largest being non-specialised stores at 9.7%.