Second-hand shopping lifts retail sales above pre-pandemic levels

Retail sales jumped over the last month as consumers flocked to charity shops, according to data from the Office for National Statistics published today.

Retail sales jumped 0.8 per cent over the last month and soared above pre-pandemic levels.

Spending at second hand clothes stores climbed over the last month, driving overall retail sales higher in October.

Retail sales are now 5.8 per cent higher than they were before the pandemic struck, underlining the scale of the U.K. economic recovery.

Brits pulled back on rushing to fill up their cars last month as the petrol crunch cooled.

Fuel sales dipped 6.4 per cent in October.

The strong sales print provides further evidence the British economy is in rude health, suggesting it is capable of absorbing higher interest rates.

The Bank of England has come under intense pressure to loosen policy amid near decade high inflation levels.

Prices are 4.2 per cent higher than they were a year ago, according to the ONS.

A fortnight ago, the Bank put markets in a spin by leaving rates unchanged at 0.1 per cent, despite most City experts betting on a rate hike.