British retail sales rose 0.7 per cent in March, surpassing forecasts, as the surge in petrol prices unleashed by the Iran war prompted motorists to stock up on fuel.
Friday’s figure for sales volumes from the Office for National Statistics was far above the 0.1 per cent expected by economists and followed a downwardly revised 0.6 per cent decline in February.
The report is the first official data showing how consumers responded to the outbreak of war in the Middle East, which sent energy prices soaring and mortgage rates higher.
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