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UK retail sales rose in January from the month before, according to an estimate released by the Office for National Statistics on Friday.
Retail sales volumes are estimated to have increased by 0.5% in January from December, reversing a revised fall of 1.2% in December from November. Markets had expected retail sales volumes to fall by 0.3% monthly, according to FXStreet.
The ONS said sales volumes remained 1.4% below their pre-Covid February 2020 levels.
Against a year prior, retail sales volumes are estimated to have fallen by 5.1% in January. In December, retail sales volumes fell by 6.1% year-on-year.
Markets had expected a steeper annual decline in retail sales volumes in January, anticipating a 5.5% fall.
Excluding fuel, retail sales volumes increased by 0.4% on a monthly basis but fell 5.3% on a yearly basis.
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