Figures from the Office for National Statistics have shown that UK retail sales have smashed forecasts, jumping 1.4% in July.

Every sector in the industry saw growth last month, with the main contribution coming from non-food stores once again.

Analysts had expected a maximum rise of just 0.2%, particularly in the wake of the Brexit vote however, the good weather in July pushed sales up as Brits were finally able to update their summer wardrobes. This, added to a weaker pound which encouraged overseas visitors to visit the UK led to much better than expected results.
Average store prices (including petrol stations) fell by 2.0% in July 2016 compared with July 2015. Compared with June 2016, there was a fall of 0.8%.

Meanwhile, the amount spent (value) in the retail industry increased by 3.6% compared with July 2015 and 1.6% compared with June 2016. The amount spent online increased by 16.7% compared with July 2015 and increased by 1.2% compared with June 2016.