UK May retail sales +0.3% vs -0.2% m/m expected

• Prior +0.5%
• Retail sales -2.1% vs -2.6% y/y expected
• Prior -3.0%; revised to -3.4%
• Retail sales (ex fuel, autos) +0.1% vs -0.3% m/m expected
• Prior +0.8%; revised to +0.7%
• Retail sales (ex fuel, autos) -1.7% vs -2.1% y/y expected
• Prior -2.6%; revised to -3.0%

UK retail sales beat estimates and rose in the month of May, so at least that is some comfort for the BOE as they raise rates further. But if you strip out the more volatile parts, the growth was rather marginal. Here's the breakdown on the month:

In any case, there is still a stark divergence between volume and value sales in the UK. And that will take some time to sort itself out as high inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term continues to impact the economy and feed through to consumers.