Low inflation stimulating consumer demand

Overall high street retail sales and orders grew at a much stronger rate than had been anticipated in the year to September, according to latest CBI figures.

The survey of 119 firms showed sales volumes were above average to the greatest extent since April 2007.

Rain Newton-Smith, CBI director of economics, said: ‘Low inflation and the recovery in wage growth are helping to stimulate consumer demand, but the slowdown in the global economy and tight margins mean retailers won’t get ahead of themselves as we head into autumn.’