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 I was a Woman Against Feminism too
- 2 Fifty Shades of Grey movie trailer released: First look at Jamie Dornan as Christian Grey
- 3 Is Gideon Levy the most hated man in Israel or just the most heroic?
- 4 Students offered grants if they tweet pro-Israeli propaganda
- 5 The Tory donor whose firm is one of Britain’s biggest tax avoiders - with HMRC's blessing
Vladimir Putin employs a full-time food taster to ensure his meals aren't poisoned
Peaches Geldof: Her final day – and her fatal decision
Students offered grants if they tweet pro-Israeli propaganda
Israel-Gaza conflict: Israel may have committed war crimes, says UN human rights chief
Taiwan plane crash: Typhoon Matmo could have caused TransAsia Airways disaster, airline suspects
Malaysia Airlines MH17 crash: Vladimir Putin is given 'one last chance' to end hostilities in Ukraine
The 'scroungers’ fight back: The welfare claimants battling to alter stereotypes
The truth about conspiracy theories is that some require considering
Arizona execution lasts two hours as killer Joseph Wood left 'snorting and gasping' for air
Malaysia Airlines MH17 crash: Ukrainian military jet was flying close to passenger plane before it was shot down, says Russian officer
Malaysia Airlines MH17 crash: Massive rise in sale of British arms to Russia
iJobs Money & Business
£18000 - £20000 per annum + OTE £25K: SThree: SThree Group has been well estab...
competitive: Progressive Recruitment: This really is a fantastic chance to joi...
£40000 - £60000 per annum + BONUS + BENEFITS: Harrington Starr: CXL, Triple Po...
£60000 - £75000 per annum + BONUS + BENEFITS: Harrington Starr: Business Anal...