UK retail sales jumped in October beyond expectations, showing a recovery from a slip that took place earlier in September due to the closure of stores and many businesses that followed the additional bank holiday during the funeral period of Queen Elizabeth II.

However, the figures are still lower than pre Covid-19 levels, mirroring the effect of escalated prices.

.The retail sales volume added 0.6% compared to September figures that slipped by 1.5% and beyond Reuters' analysts forecasts as the figures came twice the expectations at 0.3%

.Although, considering the last quarter, the sales volumes have slipped 2.4 % during the three months till October, mirroring the impact of peaked inflation on household finances

On a broader scale, retail sales carry on with dips since last year’s summer and lower than the pre-pandemic level.

Based on ONS report last Wednesday, the CPI reached the highest level in 41 years at 11.1%.