Officially in recession?

So, we're now officially in a recession are we? I wonder how long it took for the experts to analyse the evidence before they came to this conclusion...
The evidence that I've seen is all around me. Go into a supermarket, the prices have soared on everything from toilet roll to meat. Walk past a restaurant, and there is never more than one or two tables of customers on a weeknight. Walk down the high street, and there is actually room to walk without having to elbow your way through prams and pushchairs.
Having said this, the news announced that retailers have seen the biggest January turnover in a while. How long will people continue to spend?
As a student who often overspends, I am a typical product of the "credit generation". Most of the time, I've been able to avoid the high street and can avoid consumerism, but this year, the January sales have gone all out. I bought a belt from our much loved M&S for £3. I bought a pair of shoes from Topshop, which has become astoundingly overpriced, for only £4.50. I then promised myself I would curb my spending, so my boyfriend bought me a dress for £9.
I have found I am actually spending more than I ever did before, thanks to the sales. With the value of the pound sterling now at a record low (£1.35 will get you $1 at the time I was writing this), what are the indulgent types like myself going to do?
Answer: Stay away from the high street.