UK shoppers

UK retail sales outperforms in January 2024

Retail sales rebounded in January as shoppers went on a determined spending spree, latest figures show.

ONS figures revealed a 3.4% jump in sales following a drop in December 2023.

Food sales at supermarkets rose strongly while department stores reported a good impact from January sales.

The Office for National Statistics (ONS) said that the value of goods people bought in January went up 3.9%, compared to the 3.4% increase in the volume of products purchased.

Inflation, which measures the pace of price rises, has slowed significantly but at 4% it remains higher than the Bank of England’s (BoE) 2% target.

Sales increased across nearly all retail sectors, and it was a particularly strong month for supermarkets according to the ONS.

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