Retail sales rise unexpectedly for first time in three months – live updates

Retail sales rose unexpectedly last month as the January sales brought people into stores.

The volume of goods sold in stores and online increased by 0.5pc after a 1.2pc decline in December, according to the Office for National Statistics (ONS).

Economists had expected a drop of 0.3pc indicating that British consumers are weathering the cost of living crisis better than feared.

The ONS said discounting helped boost sales, although retailers that sold food and clothing suffered.

It is the first rise in retail sales in three months.

Read the latest updates below.

Source: telegraph.co.uk

12023aBrbusinesscost of livingcrisiseipfoodmarketsNewsofOfficePRetailUK