The FINANCIAL -- MasterCard Advisors’ SpendingPulse, a macro-economic report tracking national retail and service sales, today revealed some respite for the UK high street, as sales showed an increase of 2.3% in January 2012 compared to the same period last year.

According to MasterCard , prices in January decreased 5.2% compared to December 2011, due to a combination of deeper and extended January sales and the falling costs of fuel. While January prices are always low due to retailers slashing prices in clearance sales, this month marked a further 1% fall in the average seen in the January to December comparison.

The slight upturn in sales growth seen in January was also influenced by extended Boxing Day sales – with several stores running clearance events right through till the end of the month – and the warmer weather compared to last year.  The reported rise in Consumer confidence in January also had a positive impact on spending during the month.

The news will come as a welcome sign to the UK high-street, given the increase follows an average 1.3% year‐to‐year growth rate in the strongest quarter of 2011.  While January’s performance brings the growth rate to the level seen in the summer of 2011, it remains well below the average 3.6% experienced during 2010 and first quarter of 2011.

Related Stories

• Kazakh city of Aktau to modernise heating
• Western Union Highlights Strategic Initiatives at 2012 Annual Stockholders' Meeting
• Growth in Developing East Asia and Pacific Is Strong But Slowing