Figures published by the London Retail Consortium have revealed that the slowdown in sales has yet to materialise in central London.
According to the organisation, like-for-like sales were 11 per cent higher last month than during the corresponding month in 2006.
Despite there being fewer American visitors than last year, the number of people visiting the capital was higher than 12 months ago.
Kevin Hawkins, director of the consortium, said: "The sharp slowdown in sales growth in the UK as a whole has yet to have its full impact in London which has been boosted by the spending power of shoppers visiting from the rest of the UK and overseas".
However, gains have been made in the sales of "high-end" and luxury items, while others have not performed as strongly, he added.
Meanwhile, The British Retail Consortium reports that retail sales in Scotland were 0.2 per cent higher in October than a year earlier on a like-for-like basis, representing the slowest rate of growth since March 2006.
Scotland's retail sector performed weaker than the rest of the UK in October, the body noted.
