A recent survey has revealed that the retail sales in Britain are at boom with the fastest pace since last five years. According to the British Retail Consortium for the month of April, like-for-like sales increased by 5.2%.

Howard Archer from IHS Global Insight, said, "The BRC survey does not fundamentally change the underlying impression that consumers have become significantly less willing, and able, to spend in recent months in the face of serious headwinds".

Stephen Robertson, Director General, "The underlying pressures on the retail sector of climbing costs and depressed consumer spending will be problems for many months to come".

The Bank of England is keen on maintaining the rates at the record low level of 0.5% though inflation is twice the target levels of 2%.

According to BRC, after decline in the month of March, the food sales returned to normal level with growth in sales of barbecue, beer and salads. The sales also got boom from the royal wedding and Easter as the sales of champagne, party food and roasting meat increased.

Another survey calculated that the house prices in England and Wales declined during the month of April and the market is estimated to remain slow for some more time.