Retail sales surpass inflation even though consumer confidence is “fragile.”

For the first time in more than two years, retail sales in March rose above the headline rate of inflation, according to data from the British Retail Consortium (BRC). In the five weeks leading up to March 30, total retail sales in the UK increased 3.5% year over year. The three-month average of 2.1% and the twelve-month average of 2.9% are both exceeded by this increase. The Office for National Statistics (ONS) has released its most recent inflation data, which indicates that the Consumer Price Index (CPI) increased by 3.4% in the year ending in February. This indicates that for the first time in more than two years, retail sales have increased faster than inflation.