Retail sales in Britain leapt in February, driven by surging food and confectionery purchases.
On a 12-month basis, retail sales grew by 5.5% in February, compared with the figure for the same month the previous year, the Office for National Statistics said. That far exceeded market expectations for a rise of 3.6%.
On a monthly basis, British retail sales rose by 1% in February from January, the ONS added. The reading contrasted with analysts' consensus forecasts for a drop of 0.2%.
An ONS spokesman said Valentine's Day on February 14 may have been a prime reason for the increase, because anecdotal evidence suggested that champagne, wine and confectionery sales were higher than usual.
Economists said the strong retail data would likely dampen the prospects for an interest rate cut in April.
