Australian retail sales have had an increase of 12.5 per cent in October from the same time a year ago, despite having a slight fall for the first time this year after several consecutive months of sales growth.

Released today by the Australian Bureau of Statistics, retail results have been fairly solid compared to sales last year despite having a 0.2 per cent fall.

The ACT led the October year-on-year growth with 24.9%, followed by Victoria with 19.6% and NSW with 11.6% year on year growth.

Highest growth was seen by the cafes, restaurants, and takeaway food by an impressive 35.3%, followed by 32.8% rise in the footwear, clothing, and personal accessories department.

“October results remain strong when compared to the same period last year, and that is a remarkable result in the face of current challenges,” ARA CEO Paul Zahra said.

ARA has not ignored the impact of price hikes on shoppers in the current economy, however.

“It’s important to acknowledge that price increases are a factor in these numbers and are also driving Australians to spend to get in ahead of inflation. We haven’t yet seen the forecast inflationary peak, and we anticipate a softening of sales in 2023,” Mr Zahra said, despite being positive about pre-Christmas trading on retailers.