Retail sales fall in 12 months to August as car sales slump – The Irish Times

Retail sales fell 5.6% in the 12 months to August 2022, according to new data from the Central Bureau of Statistics.

The annual decline was fueled by lower car sales, which were down 12.2%, a 7% decline in tobacco, specialty store food and beverage, and furniture and homeware sales. lighting, which recorded a decrease of 6.3%. percent year over year.

Sales in the other retail sector, which includes items such as music and video recordings, games, toys, flowers, pet food and other goods, fell sharply 16% year-on-year.

However, despite mounting pressure from inflation on consumers’ purchasing power, retail sales volume in August 2022 was 3.2% higher than in February 2020, before Covid-19 hit the market. ‘economy.

Retail sales volume increased 2% from the previous month. On a monthly basis, the largest volume increases were recorded in books, newspapers and stationery, with an increase of 28%. Motor fuel sales volume increased 7.2%, while department store sales increased nearly 7%. Only furniture and lighting and non-specialized stores posted a monthly drop in volumes. The bars posted a 7.5% increase in sales volume.

Year-over-year bar sales were up 17.7%, although that was compared to a weak base when restrictions to slow the spread of Covid-19 were in place.

Excluding auto trade, retail sales were up 2.3% month-on-month and down 2.6% year-on-year.

Online sales increased slightly year-on-year to 4.9% of registered Irish business retail sales, from 4.8% a year earlier and 4.5% in August 2020.

The value of retail sales was 4.4% higher in August 2022 compared to July 2022 and 3.4% higher than the previous year.

In the fuels business, value increased 20.5% year-on-year, while volume declined 3.5%.

Excluding Motor Trades, the value of retail sales increased 2.3% in the month and 6.3% on an annual basis,” said Stephanie Kelleher, statistician in the business statistics division.

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