British retail sales surge in March: ONS

British retail sales surge in March: ONS

Official data shows United Kingdom house prices increased just 0.6% in the year to February 2019, with the average property costing £226,000 - just £1,000 higher than a year ago.

Economic data has failed to move the pound significantly in recent months as Brexit negotiations dominate the news agenda.

The retail price index rate was 2.4%, below expectations of 2.6%.

On the monthly basis, the growth rate in the quantity bought increased by 1.1 percent in March. This was mainly attributable to the rise in petrol prices.

A breakdown of the figures for March 2019, showed increased movements in all three regions.

The CPI measures changes in the general level of prices of consumer goods and services purchased by private households.

"While prices at the pumps dropped 1.4% between February and March 2018, they rose 1% in the same period this year".

The Australian Bureau of Statistics (ABS) reported that domestic employment expanded by a solid 25,700 last month rising from an upwardly revised 10,800 in February and flying past forecasts of a more modest rise of 12,000.

According to a Reuters poll of economists, consumer price inflation is expected to have grown at 2 percent in March year-on-year, up from 1.9 percent in February.

It added that the rural index also rose by 0.77 percent in March, up by 0.06 percentage points from the 0.71 percent recorded in February.

It said the rise in the food index was caused by increases in prices of bread and cereals, meat, fish, potatoes, yam and other tubers, oils and fats, and soft drinks, vegetables, and fruits.

United Kingdom inflation unexpectedly stayed below target last month as higher fuel prices were offset by the cost of food and computer games.

Average weekly earnings for employees (excluding bonuses) were estimated to have increased by 3.4%, before adjusting for inflation, and by 1.5%, after adjusting for inflation, compared with a year earlier.

Official figures show that inflation in Britain unexpectedly held steady in March, with economists suggesting that Brexit uncertainty prompted retailers to keep prices lower than would otherwise have been the case.

Suren Thiru, head of economics at the British Chambers of Commerce, said: "It remains probable that United Kingdom inflation will drift moderately higher in the coming months, with firms reporting that the pressure to raise prices remains significant".

Related Articles

  • Is Amazon Listening to Your Conversation with Alexa?

    The company also stated that employees can not identify the person or account relating to the voice recordings. The reactions to this revelation, however, would indicate that many users were completely unaware of this.
    New Pixel devices coming on May 7, Google suggests

    New Pixel devices coming on May 7, Google suggests

    Unfortunately it seems someone at Google didn't fancy the name "Pixel 3 Lite", and fancied something far more boring, but hey ho. The superheroes include Iron Man, Captain America, Hulk, Nebula, and Okoye that will be accessible through Playground.
    Rep. Alexandria Ocasio-Cortez stopped using Facebook due to 'public health risk'

    Rep. Alexandria Ocasio-Cortez stopped using Facebook due to 'public health risk'

    She launched her presidential exploratory committee Dec 31, 2018 and officially announced she was running on February 9, 2019. Despite this popularity, Ocasio-Cortez says she doesn't know if she would consider running for for president in the future.
  • Front could bring hail, strong winds, and possible tornadoes

    Front could bring hail, strong winds, and possible tornadoes

    Showers could linger in South Central Kansas into early Thursday morning but they are not expected to be severe. Large hail and damaging winds are the main threats, but locally heavy rain and a tornado will also be possible.
    Van Dyk finishes 5th at Boston Marathon

    Van Dyk finishes 5th at Boston Marathon

    According to the Washington Post , the one-second differential is the closest finish the Boston Marathon has seen in 31 years. Romanchuk, a student at the University of IL , became the youngest victor ever in the men's wheelchair division of the race.
    5 edge rushers the Raiders could target in the 2019 NFL Draft

    5 edge rushers the Raiders could target in the 2019 NFL Draft

    Why haven't the Cardinals made up their mind yet? Whether he'll trade the pick will come down to the compensation, Keim said. Meanwhile, the Cardinals could also end up taking a sharp defensive player like Nick Bosa.
  • Apple, Qualcomm agree to end all legal disputes

    Apple, Qualcomm agree to end all legal disputes

    The agreement includes an undisclosed payment from Apple to Qualcomm, a six-year licensing deal , and a chip supply agreement. Qualcomm's share price surged 23.2 per cent, its biggest gain in more than 19 years, while Apple's stock ended its day flat.
    ‘Nerves’ could be why Meghan Markle's avoiding post-birth photocall

    ‘Nerves’ could be why Meghan Markle's avoiding post-birth photocall

    Last year, months before marrying her Prince, Meghan Markle had to make the ultimate sacrifice in order to join the Royal family. Meghan and Harry have also made a decision to keep the birth private and will not pose for photos once it is born.
    SpaceX lost its Falcon Heavy core booster to the ocean

    SpaceX lost its Falcon Heavy core booster to the ocean

    The next Falcon Heavy launch with military payloads is expected no earlier than June, the Air Force confirmed via Twitter on Monday.
  • At least 28 people dead in Madeira tourist bus crash

    At least 28 people dead in Madeira tourist bus crash

    He said all the tourists in the bus were German but it was not clear if the fatalities occurred only in the bus. Per The Telegraph, Sousa said, "I have no words to describe what happened".

    US DOJ unlikely to approve Sprint T-Mobile merger

    The ball is in T-Mobile and Sprint's court to convince our government that a merger of the two carriers won't be a bad thing. Sprint Executive Chairman Marcelo Claure said the Wall Street Journal report was not accurate.
    Kate Middleton has family problems due to Prince William's possible infidelity

    Kate Middleton has family problems due to Prince William's possible infidelity

    At the time being, Catherine will don tiaras like the Cartier Halo Scroll she wore when she got married in 2011. Meanwhile, Kate carried Charlotte on her shoulders and George rode atop his uncle Mike Tindall .