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U.K. Retail Sales Advance as Brexit Price Increases Persist

  • Retail sales climb in September, driven by higher prices
  • BOE officials are considering first rate hike in a decade
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Photographer: Chris Ratcliffe/Bloomberg

U.K. retailers are losing the battle against higher prices, potentially strengthening the case for the Bank of England to increase interest rates next month.

A report Tuesday from the British Retail Consortium and KPMG showed like-for-like sales increased 1.9 percent from a year earlier -- a fourth straight month of gains. Still, the fastest growth since April was mainly driven by consumers paying more for essential items as retailers passed on the impact of the pound’s drop since the Brexit vote to shoppers.