High street sales grew steadily in the first half of July, despite higher interest rates and severe flooding in parts of the country, but the growth was not as strong as retailers had expected, according to a CBI survey published on Tuesday.

The employers’ organisation found that 42 per cent of retailers surveyed said sales volumes were higher than a year ago and 24 per cent reported a decline. The balance of 18 per cent, was a touch up on June’s 17 per cent and also up on market expectations of 15 per cent.