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Cooler weather and discount offers saw high street sales in September lift to their highest level since June, new research has found.

The rise suggests that retailers have yet to be hit by the global credit crunch which forced beleaguered lender Northern Rock to turn to the Bank of England for an emergency loan last month.

Like-for-like retail sales climbed by an annual rate of three per cent in September, up from the 1.8 per cent recorded in August.

Sales were boosted after colder weather experienced at the end of last month drove demand for autumn and winter clothing, said the British Retail Consortium (BRC).

The BRC, which conducted the research, added that price promotions had also encouraged more consumers to part with their cash in September.

"Sales were slightly better than anticipated for two reasons - firstly, the weather gave a much-needed fillip to the clothing and footwear sectors," explained BRC director general Kevin Hawkins.

"Secondly and more importantly, price promotions and cuts in base prices were widespread across all sectors, resulting in an unprecedented number of buying opportunities," he added.

Analysts say the research will calm fears that consumer spending could be hit by the credit crunch and higher interest rates, making it more unlikely that the Bank of England will opt to cut the underlying cost of borrowing in the near future.

Last week the central bank decided to keep the UK's benchmark rate of interest on hold at 5.75 per cent, although many economists believe that a rate cut could be on the cards early next year in response to the credit squeeze.

However the BRC research indicates that retail sales have yet to be hit by the turmoil on the credit markets, even though the study was conducted during the period that Northern Rock requested assistance from the Bank of England – a move which prompted a damaging run on the Newcastle-based bank.

Nonetheless accountancy firm KPMG, which helped compile the data, warned that the performance of retailers in the run-up to Christmas would be the key test of how well the sector was faring.

Helen Dickinson, head of retail at KPMG, said: "The real acid test will come in the lead up to Christmas, so there is no time for complacency.

"However, for the moment at least, consumer spending patterns are not being affected by the wider credit crunch issues," she added.