High St sales slide

RETAIL sales grew again in the third quarter of the year despite a sharp fall in spending last month, official figures have revealed.

The Office for National Statistics said sales rose 0.6pc between July and September but there was a sharp fall of 0.8pc in September, in a sign that the squeeze on household incomes may be taking its toll.

However, retail analysts at Deloitte warned that an interest rate rise early next month – as has been threatened by the Bank of England as it looks to control inflation – could potentially cause a headache for retailers in the runup to Christmas.