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Financial News: Italy Retail Sales Fall 0.4% In October

Italy Retail Sales Fall 0.4% In October

12/07/2022 - 04:46:00 (RTTNews)

(RTTNews) - Italy's retail sales decreased in October after rebounding in the previous month, as sales of both food and non-food goods dropped as households tighten spending amid high inflation.

The value of retail sales fell 0.4 percent month-on-month in October, reversing a 0.5 percent rise in September, data from the statistical office Istat showed on Wednesday.

Sales of food goods declined marginally by 0.1 percent monthly in October, and non-food product sales were down 0.5 percent.

On a yearly basis, the value of retail sales climbed 3.4 percent in October, but well below the 7.1 percent gain in September. Sales have been rising since March 2021.

Online sales were 6.2 percent higher in October compared to last year versus a 3.6 percent rise a month ago.

Data also showed that the volume of retail sales fell 1.2 percent monthly and by 6.3 percent yearly in October.

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