Retail sales volumes in the UK rose by 0.5 per cent in January, compared to a fall of 1.4 per cent in December, according to figures from the Office for National Statistics.
A poll of economists by Reuters had pointed to a 0.3 per cent fall in sales last month compared with December.
Driving the numbers higher was a 1.7 per cent rise in the sales volumes of petrol, following a rise of 0.3 per cent in December 2022 as fuel prices continued to fall.
However, food store sales volumes continued to struggle. They fell by 0.5 per cent in January, following a fall of 0.7 per cent in December.
Volumes and values
Inflation played a major role in the numbers. Retail sales by volumes fell by 5.1 per cent in January when compared to the same month last year, while the value of retail sales rose by 4.1 per cent last month when compared to January 2022.
"After December's steep fall, retail sales picked up slightly in January, although the general trend remains one of decline," said Darren Morgan, director of economic statistics at the ONS.
"In the latest month, as prices continue to fall at the pumps, fuel sales have risen."
"Meanwhile, discounting helped boost sales for online retailers as well as jewellers, cosmetic stores and carpet and furnishing shops.
"However, after four months of consecutive growth, clothing store sales fell back sharply."
Analysts said the unexpected jump in January retail sales volumes was simply a blip.
“This isn’t a turnaround in the fortunes of the retailers: It’s highly likely that this is just a bump in the slide that started back in summer 2021," said Sarah Coles, head of personal finance at Hargreaves Lansdown.
“When your money isn’t stretching as far as it did, it makes sense to wait for the sales you know are coming," said Danni Hewson, head of financial analysis at AJ Bell.
"Many families decided to cut back on their Christmas gift giving and there will also be plenty of people who chose to give cash with the expectation that their children or other family members could treat themselves to the things they really wanted at a price that looked much nicer."
“With celebrations and family gatherings over for another year people are making smart choices, trading down to a cheaper supermarket, hunting out own labels and putting fewer items in their baskets."
“The glad rags have been put away and there’s no need to add to wardrobes when the weather’s grey and dreary and you’ve nowhere to go and be seen."
“Retailers will view January’s figures with mixed emotions. The fact people have been spending in what’s often a difficult month will be welcome, but sales do little to bolster margins," she added.
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
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Group A: India, Japan, New Zealand, Sri Lanka
Group B: Australia, England, Nigeria, West Indies
Group C: Bangladesh, Pakistan, Scotland, Zimbabwe
Group D: Afghanistan, Canada, South Africa, UAE
UAE fixtures
Saturday, January 18, v Canada
Wednesday, January 22, v Afghanistan
Saturday, January 25, v South Africa
UAE squad
Aryan Lakra (captain), Vriitya Aravind, Deshan Chethyia, Mohammed Farazuddin, Jonathan Figy, Osama Hassan, Karthik Meiyappan, Rishabh Mukherjee, Ali Naseer, Wasi Shah, Alishan Sharafu, Sanchit Sharma, Kai Smith, Akasha Tahir, Ansh Tandon
At a glance
Fixtures All matches start at 9.30am, at ICC Academy, Dubai. Admission is free
Thursday UAE v Ireland; Saturday UAE v Ireland; Jan 21 UAE v Scotland; Jan 23 UAE v Scotland
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Director: Saeed Roustaee
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Rating: 4/5
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More than 2.2 million Indian tourists arrived in UAE in 2023
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FIGHT CARD
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Name: Qyubic
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Founder: Namrata Raina
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Sector: E-commerce
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Getting there
The flights
Emirates and Etihad fly to Johannesburg or Cape Town daily. Flights cost from about Dh3,325, with a flying time of 8hours and 15 minutes. From there, fly South African Airlines or Air Namibia to Namibia’s Windhoek Hosea Kutako International Airport, for about Dh850. Flying time is 2 hours.
The stay
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Skeleton Coast Safaris’ four-day adventure involves joining a very small group in a private plane, flying to some of the remotest areas in the world, with each night spent at a different camp. It costs from US$8,335.30 (Dh30,611); www.skeletoncoastsafaris.com
Three ways to boost your credit score
Marwan Lutfi says the core fundamentals that drive better payment behaviour and can improve your credit score are:
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Specs
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Power: 659hp
Torque: 1075Nm
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Price: On request
City's slump
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WHAT IS A BLACK HOLE?
1. Black holes are objects whose gravity is so strong not even light can escape their pull
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What are NFTs?
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You can buy, hold and use NFTs just like US dollars and Bitcoins. “They can appreciate in value and even produce cash flows.”
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Liverpool 4-1 Shrewsbury
Liverpool
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Founder: Ahmed Wadi
Launched: 2016
Employees: 76
Financing stage: Series A ($4 million)
Investors: Partech, Sawari Ventures, 500 Startups, Dubai Angel Investors, Phoenician Fund
The specs
BMW M8 Competition Coupe
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Power 625hp at 6,000rpm
Torque 750Nm from 1,800-5,800rpm
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Top speed 305kph
Fuel economy, combined 10.6L / 100km
Price from Dh700,000 (estimate)
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About Okadoc
Date started: Okadoc, 2018
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Based: Dubai, UAE
Sector: Healthcare
Size: (employees/revenue) 40 staff; undisclosed revenues recording “double-digit” monthly growth
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Investors: Undisclosed
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Joe Root (captain), Moeen Ali, Jimmy Anderson, Jofra Archer, Jonny Bairstow, Stuart Broad, Rory Burns, Jos Buttler, Sam Curran, Joe Denly, Jason Roy, Ben Stokes, Olly Stone, Chris Woakes.
