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Retail sales up in November, but so was inflation

19 December 2016 - Janet Bird

inflation

Retail sales increased in November, but so did inflation as the fall in the value of the pound began to take its toll.

Major events such as Black Friday and Cyber Monday have been credited with generating a 0.5 percent rise in retail sales in November compared to October and a 5.9 percent increase on the same period last year.

But while sales were up, with department stores and retailers of electrical equipment achieving the highest sales and online purchases showing an almost 25 percent increase compared to November 2015, the news was not all good.

Inflation hit its highest level for two years, rising to 1.2 percent in November. Rising import costs due to the weak pound are starting to be passed on to the consumer in the form of higher prices.

Many analysts, including the Bank of England, are predicting inflation will continue to rise to around three percent in 2017.


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