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UK retail sales surge higher in March ahead of lockdown easing
Customers have flocked back to shops since the easing of lockdown restrictions. (Photo by Dan Kitwood/Getty Images)
Retail sales continued to recover in March with a monthly increase of 5.4 per cent as the nearing of Covid restrictions loosening boosted consumer spending.
This exceeded a prediction from economics of a monthly increase of 1.5 per cent, data from the Office for National Statistics showed on Friday.
Sales were 1.6 per cent higher than in February 2020, before the impact of the pandemic struck.
The ONS said the data reflected “the effect of the easing of coronavirus restrictions on consumer spending.”
UK inflation climbs to 0.7 per cent in March
(AFP via Getty Images)
The UK’s Consumer Prices Index (CPI) rose to 0.7 per cent in March, from 0.4 per cent in February, official ONS figures showed this morning.
CPI was boosted by rising fuel costs and clothing but was partially offset by falls in the price of food.
The ONS said prices charged by manufacturers rose by 1.9 per cent in the year to March, the highest in nearly two years.
The prices they paid for their inputs jumped by almost 5.9 per cent, the most since September 2018.
British inflation is forecast to rise sharply in the coming months, due to an increase in household energy bills in April and higher global oil prices.
20
th April 2021 8:40 am
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Transact triumphant
Advisers placed more than £2bn with Transact during the quarter ended 31 March 2021, which resulted in the platform’s highest ever quarterly gross and net inflows.
The platform closed the period with £46.9bn funds under direction. It says this was driven by advisers’ positive reaction to price reductions announced in December last year.
In her latest column for
Money Marketing, Progeny Wealth associate director Anna Sofat outlines why it’s important to take the mood music on what clients think about Covid debt.
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