UK retail sales rebounded in October as shop prices fell at their fastest pace in three months with price cuts boosting consumer spending.

The balance of companies reporting increased sales over those citing a drop rose from the balance of 9 to 11, with 37% firms reporting increased sales and 26% a fall, according to data released by Confederation of British Industry. A separate study by the British Retail Consortium showed an index of the price of goods in stores fell 1.37% in October from a year ago, the steepest decline in the survey’s history.

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