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Last Updated: Wednesday, 20 October, 2004, 05:44 GMT 06:44 UK
Oil costs could 'hit high street'
Shoppers
High street price rises may be in the pipeline because of oil, experts say
Bumper sales at the tills could be curbed by high oil costs pushing up prices, experts have forecast.

The prediction is contained in the Royal Bank of Scotland Retail Sales Monitor, which has found further brisk spending in the shops.

Business last month was up 5.5% on September last year.

But economists have issued a warning that oil and other commodities could add to costs and slow sales growth in the months ahead.

The latest figures show high street takings are still booming, even before the effect of shops which have just opened is considered.

Christmas period

However, analysts also found some gloom among customers.

Relatively warm weather meant spenders were less interested than normal in buying new clothes for the autumn and winter.

But the Scottish Retail Consortium said the figures were still reassuring for the run-up to Christmas.

Money in till
Sales have risen by more than 5%
July's figures suggested wet summer weather had failed to dampen spending. Total sales in June grew by more than 8% - well ahead of the rest of the UK.

Outdoor goods such as summer sandals did not sell well but that was offset by growth in other areas.

The rise in total sales was even more marked - a year-on-year increase of 8.2% in Scotland, compared to 5% south of the border.

The increases came on top of Scottish increases in May of 4.8% in like-for-like sales and 7.3% in total sales.


SEE ALSO:
Summer rain fails to dampen sales
21 Jul 04  |  Scotland
Retailers welcome spending boom
27 Jun 04  |  Scotland
High streets booming, survey says
16 Jun 04  |  Scotland
Scots shop to top of retail league
23 Apr 03  |  Scotland


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