1. Retail sales volumes in June 2014: up 0.1% on the month, up 1.6% in Q2 and up 3.6% on the year
  2. Average prices of goods sold in June 2014 showed no change, compared with June 2013


Commenting on the retail sales figures for June 2014, published today by the ONS, David Kern, Chief Economist at the British Chambers of Commerce (BCC) said:


“The rise in retail sales figures in June supports our view that we will see strong GDP growth in Q2. With no inflation in the retail sector, these figures reinforce the case that the MPC must avoid any early interest rate rises. Overall, economic growth remains on course but the recovery is still facing obstacles and this is no time to take risks. The government’s main priority must be to underpin the recovery and introduce balanced measures that support exports and investment.”