High Street sales growth stalled during February as prices rose, according to the latest report from the CBI.
According to the results of its latest distributive trades survey, 34 per cent – a third of respondents – said that they had experienced like-for-like sales growth during the first half of February.
However, 36 per cent of those questioned said they were down during the same period.
The figures are in stark contrast the massive sales figures online retailers experienced at the beginning of the year, as reported by PC Retail.
The results also showed that, despite a tightening of the belt by customers and flat growth, retail prices rose at their fastest rate in over a decade.