Retail sales slip in February

The higher-than-expected fall in the total volume of retail sales casts a further cloud over the economic landscape after the retail price index of inflation shot to a 20-year high in February and public sector borrowing hit a record amount. Both food and non-food stores saw falls in sales of 0.4% and 1.6% respectively, said the ONS, as hard-up shoppers stayed away from the High Streets. Against the disappointing monthly figures, the volume of retail sales in February increased 1.3% compared with the same month last year. Sales in the three months to December 2010 also increased 0.1%....