Year-on-year estimates of the quantity bought in the retail industry continued to show growth. In February 2014, the quantity bought increased by 3.7% compared with February 2013.
The three month on previous three month movement in the quantity bought showed continued growth for the twelfth consecutive period increasing by 1.6%. This has been the longest period of sustained growth since November 2007.
The average prices of goods sold showed deflation of 0.2% with fuel providing the greatest contribution to this at 4.4%. The last time store price deflation occurred was September 2009 (0.8%) when fuel was again the main contributor at 5.8%.
In February 2014, the amount spent in the retail industry increased by 3.5% compared with February 2013 and by 1.3% compared with January 2014. Non seasonally adjusted data show that the average weekly spend in the retail industry in February 2014 was £6.6 billion compared with £6.3 billion in February 2013 and £6.4 billion in January 2014.
The amount spent online increased by 12.4% in February 2014 compared with February 2013 and by 2.5% compared with January 2014.