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Surprise rise in UK retail sales High Street sales staying strong
(10 minutes later)
Sales on the High Street grew unexpectedly fast in November, helped by strong online sales, according to official figures. UK retail sales have remained steady during November, despite concerns that consumers would rein in their spending, official figures have shown.
Retail sales rose 0.4% last month, with an annual growth rate of 4.4%, the Office for National Statistics said. Retail sales rose by 1.1% in the three months to the end of November, from 1.3% in three months to October, the Office for National Statistics said.
But sales in the three months to the end of November grew at 1.1%, slightly down from October's figure of 1.3%. The growth came predominantly from food stores and growth in a category that includes online retailers, it said.
The monthly figures were boosted by 5.9% annual growth in a category that includes online retailers. Analysts were concerned that higher interest rates would hurt spending.
However, many retailers have been cutting prices to lure shoppers.
According to the figures from the Office for National Statistics (ONS), average prices for the whole retail sector in November were 1.3% below their level at this time last year.
On a monthly basis, retail sales climbed by 0.4% in November, pushing the annual rate of growth to 4.4%, the ONS said.
The category of "non-store retailing and repair", which includes online retailers, grew 5.9% compared with the same month last year.