FXstreet.com (Barcelona) - The sustained increase on retail sales volume reflected in the CBI distributive trade survey during the last year, has come to an end in February, alongside with a strong jump on prices, according to the latest report released by the Confederation of British Industry.
The rounded balance between surveyed retailers who have seen their sales increasing against those who have experienced decreases, has resulted in -3, down from +4 on the previous month, as 34% of respondents said year-on-year sales volumes rose in the first half of February, while 36% said they were down. The market consensus advanced a balance of +10.
Prices have increased at their fastest pace in over a decade, pushed by prices of energy, food and raw materials. 55% of the retailers reported increase on prices, while 6% reported decreases, the prices balance, therefore, resulting in a +50 rounded reading., the highest result since the +51 min August 1996.