Surprise rally for retail sector

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Published: Thursday 20th November 2014 by The News Editor

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Retail sales staged a surprise rally last month after shoppers were tempted back to the shops by the steepest fall in prices since 2002.

Sales volumes jumped to a better-than-expected 0.8% in October, compared to the month before when they fell 0.4%, according to the Office for National Statistics (ONS).

The key drivers were petrol, clothing and grocery sales, which demonstrates that the ongoing supermarket price war is attracting customers.

Over the year average store prices fell 1.5%, the largest fall for 12 years, forced down by reductions in petrol prices.

Taken over a 12-month period sales volumes rose 4.3% in October, compared to an expected 3.8%. Monthly sales volumes were expected to rise by 0.3%.

Published: Thursday 20th November 2014 by The News Editor

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