UK retail sales fall

Figures showed that the month-on-month sales in January fell by 0.3% and the three-month on three-month sales fell by 0.4%. While there was growth year-on-year (sales increased by 1.5% between January 2016 and January 2017 ), this was the lowest growth since November 2013. 

Average store prices (including fuel) increased by 1.9% on the year. The greatest contributor to this increase came from petrol stations, where year-on-year average prices rose by an estimated 16.1%.

"In the three months to January, retail sales saw the first signs of a fall in the underlying trend since December 2013," said Kate Davies, ONS senior statistician.

"We have seen falls in month-on-month seasonally adjusted retail sales, both in conventional stores and online, and the evidence suggests that increased prices in fuel and food are significant factors in this slowdown."