The prospect of an early interest rate rise was still on the agenda after official figures showed High Street sales remained robust.
The Office for National Statistics said retail sales fell 0.6 per cent last month, the largest drop since February 2000.
The dip follows a 1.8 per cent rise in April. But sales were still 5.4 per cent higher than the same month a year ago.
In March to May, they were 1.9 per cent higher than the previous three months, the biggest jump since May 1997.
Sales were also six per cent higher than the corresponding three months last year.
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