Cost of living pressure causes dip in December retail sales

Large seasonally adjusted fall of 3.9% also due to higher spending over Black Friday sales period, economists say

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Retail sales fell 3.9% in December on a seasonally adjusted basis as cost of living pressures and rising mortgage repayments began to hit households.

ABS head of retail statistics, Ben Dorber, said seasonal spending patterns over the Black Friday and holiday period were evolving. In November, retail turnover increased by 1.7%.

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