UK retail sales volume grew 1.9% mom in January, well above expectation of 1.0% mom. Ex-fuel sales rose 1.7% mom, above expectation of 1.2% mom. Comparing with the sale month a year earlier, retail sales rose 9.1% yoy while ex-fuel sales rose 7.2% yoy.
Comparing with prepandemic level in February 2020, retail sales was 3.6% above that level while ex-fuel sales was 4.4% above.
