Official data on retail sales volumes remained flat in February, defying economists’ expectations of a 0.4% decline, after experiencing a robust 3.6% expansion in January.
The Office for National Statistics (ONS) reported that sales volumes plateaued as consumers reduced spending on food and fuel, particularly due to the surge in petrol prices during February. However, increased spending on online goods, clothing, and department stores partially offset these declines, resulting in an overall 0.3% dip in average sales over the past three months. Despite this, overall sales volumes remained 1.3% below pre-pandemic levels.
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