The Office for National Statistics released the retail sales data for the U.K. on Friday. Retail sales in the U.K. decreased 0.3% in January, missing expectations for a 0.1% drop, after a 0.2% gain in December. December's figure was revised down from a 0.4% rise.

The increase was driven by lower food, clothing and footwear sales.

On a yearly basis, retail sales in the U.K. climbed 5.4% in January, missing expectations for a 6.0% rise, after a 4.0% increase in December. December's figure was revised down from a 4.3% increase.

Average store prices declined 3.1% in January from the year earlier, mostly due to falling petrol prices.