Britain’s retail sales recovered in January as shoppers shrugged off rising inflation and the threat from the Omicron variant of coronavirus eased.
The volume of goods sold in stores and online rose 1.9 per cent compared with the same month a year earlier, according to the Office for National Statistics, reclaiming part of the 4 per cent decline seen in December when Covid-19 restrictions were tightened.
The rise in sales was the biggest monthly increase since the shops reopened last spring, with department stores, garden centres and other non-food stores recording particularly robust growth, of 3.4 per cent.
Helen Dickinson, chief executive of the British Retail Consortium, said despite inflation pressures and falling consumer confidence, retail sales held up well in January as retailers went to great lengths to keep up the Christmas momentum.
“Sales of non-food items, including clothing, furniture and household goods all grew by high double digits,” said Ms Dickinson.
“Meanwhile, food sales dropped — though this is compared to January 2021, when most of the country was in lockdown and households were unable to eat out.”
Britain's inflation rate rose to 5.5 per cent in January on the year, taking prices to a fresh 30-year high and pushing living costs up further for households already struggling with higher energy bills and interest rates.
Inflation was up from December's rate of 5.4 per cent, driven by higher clothing and footwear prices, according to the Office for National Statistics, with the Bank of England expecting inflation to hit 7.25 per cent in April — more than triple its 2 per cent target — when a 54 per cent surge in energy bills and higher taxes take effect.
However, despite the threat of rising inflation, and 76 per cent of consumers now saying they are feeling the effects of the cost-of-living squeeze, sales volumes were 3.6 per cent above pre-pandemic levels seen in February 2020.
“Consumers appeared to be shrugging off the mounting cost-of-living crisis and that trend still appears to be continuing for now, with a trip to the shops becoming more popular through February,” said Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown.
“According to other data from the ONS, in the week to the February 12 overall retail football in the UK increased by 2 per cent from the previous week and was 86 per cent of the level seen in 2019, the fifth consecutive week of increasing retail footfall.”
The figures add to a raft of data that are likely to convince the Bank of England that the UK economy is recovering strongly enough to cope with a third straight interest-rate increase in March.
They also provide some succour for the nation’s beleaguered retailers, who saw a dismal December after households brought forward their festive shopping in fear of further Covid restrictions.
The number of people shopping during Boxing Day sales in London’s West End plummeted last year, as many chose to avoid the city centre amid a surge in cases of the Omicron coronavirus variant in the UK.
Footfall around the shopping destinations of Oxford Street, Regent Street and Bond Street was almost half of pre-pandemic levels on Sunday, the first day after Christmas, when shoppers typically flood the capital on the hunt for bargains.
The upbeat January figures suggest that consumers are starting to look beyond the coronavirus pandemic and returning to a more typical behaviour pattern, said Stuart Cole, chief macroeconomist at stockbroking firm Equiti Capital.
“However, the key issue going forward will be whether this apparent bounce back in consumption will be able to withstand the forthcoming increase in taxation and energy bills set to hit in April, which together will take a significant chunk out of workers' pay packets,” he said.
Company Profile
Company name: Yeepeey
Started: Soft launch in November, 2020
Founders: Sagar Chandiramani, Jatin Sharma and Monish Chandiramani
Based: Dubai
Industry: E-grocery
Initial investment: $150,000
Future plan: Raise $1.5m and enter Saudi Arabia next year
Where to donate in the UAE
The Emirates Charity Portal
You can donate to several registered charities through a “donation catalogue”. The use of the donation is quite specific, such as buying a fan for a poor family in Niger for Dh130.
The General Authority of Islamic Affairs & Endowments
The site has an e-donation service accepting debit card, credit card or e-Dirham, an electronic payment tool developed by the Ministry of Finance and First Abu Dhabi Bank.
Al Noor Special Needs Centre
You can donate online or order Smiles n’ Stuff products handcrafted by Al Noor students. The centre publishes a wish list of extras needed, starting at Dh500.
Beit Al Khair Society
Beit Al Khair Society has the motto “From – and to – the UAE,” with donations going towards the neediest in the country. Its website has a list of physical donation sites, but people can also contribute money by SMS, bank transfer and through the hotline 800-22554.
Dar Al Ber Society
Dar Al Ber Society, which has charity projects in 39 countries, accept cash payments, money transfers or SMS donations. Its donation hotline is 800-79.
Dubai Cares
Dubai Cares provides several options for individuals and companies to donate, including online, through banks, at retail outlets, via phone and by purchasing Dubai Cares branded merchandise. It is currently running a campaign called Bookings 2030, which allows people to help change the future of six underprivileged children and young people.
Emirates Airline Foundation
Those who travel on Emirates have undoubtedly seen the little donation envelopes in the seat pockets. But the foundation also accepts donations online and in the form of Skywards Miles. Donated miles are used to sponsor travel for doctors, surgeons, engineers and other professionals volunteering on humanitarian missions around the world.
Emirates Red Crescent
On the Emirates Red Crescent website you can choose between 35 different purposes for your donation, such as providing food for fasters, supporting debtors and contributing to a refugee women fund. It also has a list of bank accounts for each donation type.
Gulf for Good
Gulf for Good raises funds for partner charity projects through challenges, like climbing Kilimanjaro and cycling through Thailand. This year’s projects are in partnership with Street Child Nepal, Larchfield Kids, the Foundation for African Empowerment and SOS Children's Villages. Since 2001, the organisation has raised more than $3.5 million (Dh12.8m) in support of over 50 children’s charities.
Noor Dubai Foundation
Sheikh Mohammed bin Rashid Al Maktoum launched the Noor Dubai Foundation a decade ago with the aim of eliminating all forms of preventable blindness globally. You can donate Dh50 to support mobile eye camps by texting the word “Noor” to 4565 (Etisalat) or 4849 (du).
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UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
The specs
Engine: 2.0-litre 4-cylturbo
Transmission: seven-speed DSG automatic
Power: 242bhp
Torque: 370Nm
Price: Dh136,814
UAE players with central contracts
Rohan Mustafa, Ashfaq Ahmed, Chirag Suri, Rameez Shahzad, Shaiman Anwar, Adnan Mufti, Mohammed Usman, Ghulam Shabbir, Ahmed Raza, Qadeer Ahmed, Amir Hayat, Mohammed Naveed and Imran Haider.
Jetour T1 specs
Engine: 2-litre turbocharged
Power: 254hp
Torque: 390Nm
Price: From Dh126,000
Available: Now
FIXTURES
All times UAE ( 4 GMT)
Friday
Saint-Etienne v Montpellier (10.45pm)
Saturday
Monaco v Caen (7pm)
Amiens v Bordeaux (10pm)
Angers v Toulouse (10pm)
Metz v Dijon (10pm)
Nantes v Guingamp (10pm)
Rennes v Lille (10pm)
Sunday
Nice v Strasbourg (5pm)
Troyes v Lyon (7pm)
Marseille v Paris Saint-Germain (11pm)
TRAP
Starring: Josh Hartnett, Saleka Shyamalan, Ariel Donaghue
Director: M Night Shyamalan
Rating: 3/5
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Electric scooters: some rules to remember
- Riders must be 14-years-old or over
- Wear a protective helmet
- Park the electric scooter in designated parking lots (if any)
- Do not leave electric scooter in locations that obstruct traffic or pedestrians
- Solo riders only, no passengers allowed
- Do not drive outside designated lanes
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