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Retail Sales Hit New Peak, Household Goods Fall: ABS

Retail sales volumes have risen for a third consecutive quarter to hit a record peak for June.

The latest data from the Australian Bureau of Statistics shows sales volumes were 1.4 per cent higher in the June quarter. This follows on from a 1 per cent rise in the March quarter, and a 7.7 per cent jump in December.

June quarter sales were up 12 per cent from the previous year.

Total sales hit $34.3 million for the month of June, and $94.3 million for the quarter. Total online retailing sales were $3.6 million for the month of June, seasonally adjusted.

This is despite the largest inflation jump since the introduction of GST in 2000.

“Much of the growth in the June quarter sales volumes came from cafes, restaurants, and takeaway foods services, which rose 8.6 per cent over the quarter and continued their post-lockdown resurgence,” explained ABS head of retail statistics Ben Dorber.

Household good retail recorded the largest fall, down 1.8 per cent, following a 1 per cent fall in the March quarter.

“Cost of living pressures and increasing interest rates appear to be weighing more on sales volumes for household goods retailing, the industry where most high-priced discretionary items are sold,” Dorber said.

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