FXstreet.com (Balance) - High street sales have decreased on the year for the second consecutive month in May, although the balance has been less severe than in April, while prices posted the largest increase since 1992, according to data by the Confederation of British Industry.
Year on year sales volume has given a balance of -26, with 42% of the surveyed retailers reporting declines on sales compared with May last year, while 28% of them reported increases. The -14 balance is in line with the experts expectations, and marks an improvement from April's balance of -26.
Prices of goods have grown in May at its fastest rate of the lasts 16 years. A balance of 56% of the firms have said that prices have increased on the year, which makes the largest balance since the 57% in may 1992, and, furthermore, a balance of 52% is expected to increase prices next month.