UK retail sales on the high street were flat over the year to March, according to the latest statistics released by the CBI.

The CBI's latest Distributive Trades Survey, which covered the first two weeks in March, found that 33% of retailers saw sales volumes increase on the previous year, while the same figure recorded a fall. It said that the results suggest that sales on the high street may be stabilising.

"It is encouraging that sales on our high streets are stabilising and, while we are still not seeing growth, conditions have improved since the end of last year," said CBI Distributive Trades panel chair and Asda COO Judith McKenna.

"However, the general retail outlook remains tough and firms expect volumes of sales and orders to fall next month. The squeeze on people's pockets continues to bite, despite a recent fall in inflation, with wage growth modest and fuel costs remaining high."