Australia’s retail sales up 0.4% in March

This is higher than the 0.2% increase in the previous month. 

Retail turnover in Australia rose by 0.4% in March, up from the 0.2% increase in February, the Australian Bureau of Statistics (ABS) reported. 

“Whilst retail sales recorded a third straight rise in March, a pull-back in spending on discretionary goods has seen monthly turnover remains at a similar level to six months ago,” Ben Dorber, ABS head of retail statistics, said.

Read more: Retail sales in Australia remain flat in February

The ABS also linked the March increase to the combined growth in food-related spending, with rises in both cafes, restaurants, and takeaway food services (+1.5%) and food retailing (+1.0%).

Dorber noted the 13 consecutive monthly rises in food retailing were driven by high food inflation. 

“Businesses in cafes, restaurants, and takeaway food services are passing on their rising costs to consumers through price rises, while also benefitting from strong demand driven by the continued return of large-scale cultural and sporting events,” he said. 

“Spending on non-food retailing has slowed in response to interest rate rises and increased cost of living pressures. This follows increased spending during and immediately following much of the COVID-19 pandemic period.”