UK retail sales increased in August at the sharpest pace in nearly seven years as consumer spending drove economic recovery, according to research by the Confederation of British Industry (CBI), which found that 60 per cent of retailers reported higher sales in the year to August. This was up from 23 per cent in July and the highest since December 2014.

In July, retail sales fell considerably as broader parts of the economy emerged from lockdown.

Although demand remains, retailers are currently struggling with operational challenges as labour shortages have hit supply. The shortages are also creating inflationary pressure in the sector.

CBI said selling prices in the three months to August rose at their fastest pace since November 2017 and that they are likely to continue rising over the coming months.

Of the 104 businesses surveyed by the CBI, 73 per cent said that prices were up compared with the same month a year ago. This was up from 53 per cent in May.

By Fibre2Fashion 
https://www.fibre2fashion.com/news/retail-results/uk-retail-sales-grow-at-sharpest-pace-in-aug-in-7-years-cbi-275984-newsdetails.htm