Inflation puts skids under high street sales
Friday 27 April 2012
High street sales came off the boil in the first half of April as shoppers stung by rising inflation shied away from expensive purchases, the CBI warned yesterday.
The organisation's distributive trades survey showed a 6 per cent balance of retailers saw lower sales than a year ago, deflating rising hopes of a sustained revival after encouraging sales in recent months. A combination of glorious weather and a petrol panic gave retailers their best month in more than a year in March, according to official figures.
There was "solid" growth for clothing and footwear outlets, but supermarkets came under pressure and car dealers reported a big drop in year-on-year sales. This came against a backdrop of renewed worries on inflation, which crept up for the first time in six months during March.
Judith McKenna, who chairs the CBI's distributive trades panel, said: "The situation remains fragile. Consumers are still holding off from buying bigger ticket items, and opting to spend on smaller 'treat' purchases that give them a lift without breaking the budget."
- 1 Revolutionary lost Caravaggio painting 'Mary Magdalen in Ecstasy' identified
- 2 McKamey Manor: This 'extreme' haunted house is the stuff of nightmares
- 3 Russell Brand says he will 'probably' give up acting to focus on his revolution
- 4 Watch what happened when food critics were unknowingly served McDonald's
- 5 David Beckham's Haig Club whisky is exactly what’s wrong with the Highlands
Renee Zellweger on plastic surgery rumours: 'I'm living a more fulfilling life and I'm thrilled that perhaps it shows'
Eleven members of same family hospitalised after eating deadly pufferfish
FCKH8: YouTube reinstates provocative anti-sexism video showing young girls swearing
Phone-hacking: The Piers Morgan connection - Mirror admits some stories during Morgan's tenure may have been obtained by illegal means
Russell Brand says he will 'probably' give up acting to focus on his revolution
Of course, teenage girls need role models – but not like beauty vlogger Zoella
Cameron is warned 'no possibility' of UK reducing immigration and that bid to bring in quota on migrant workers would be illegal
Support for EU membership 'at highest level since 1991' with most Brits wanting to stay 'in'
Thousands with degenerative conditions classified as 'fit to work in future' – despite no possibility of improvement
Attacks on 'Ukip Calypso' show how skewed people’s priorities are
Poppy Appeal 2014: This is why I won't be wearing a red poppy this year
iJobs Money & Business
£60000 per annum: Ashdown Group: Compensation and Benefits Manager - Compensat...
£30000 - £35000 Per Annum plus excellent benefits: Clearwater People Solutions...
£24000 - £28000 per annum + bonus & benefits: Ashdown Group: IT Business Syste...
£50000 - £90000 per annum + benefits: Ampersand Consulting LLP: Markit EDM (CA...