Latest data released by CBI - 24 August 2021

That's the highest headline reading since December 2014, with retail sales expectations balance for September also rising to 39 from 29 previously for August. The quarterly business situation balance also climbs up to 6 compared to 3 seen back in May.

This is a positive report overall as it highlights that consumer demand/spending is still robust in the summer, though CBI warns that it might settle down later in the year.

Meanwhile, the index for quarterly average selling prices climbed to 73 from 53 in May - the highest reading since November 2017. That reaffirms rising price pressures, which will continue to test the BOE's patience in the months to come.