UK retail sales jump in April despite inflation at 40-year high

Down 0.3% from previous quarter

Retail sales volumes in the UK unexpectedly jumped by 1.4% between March and April, better than the 0.2% fall economists had expected, despite inflation rising to a record 9% in numbers released this week.

The monthly rise was largely driven by a 2.8% rise in food store sales, mostly due to higher spending on alcohol and tobacco in supermarkets, according to data from the Office for National Statistics published on Friday. Despite this, the picture remains bleak. When compared to the last quarter, sales volumes fell by 0.3%, which continues the downward trend since summer 2021. April's retail sales volumes were also 4.9% lower than a year ago. Commenting on the figures, ONS deputy director for surveys and economic indicators Heather Bovill said: "Retail sales picked up in April after la...