Annual retail sales down for sixth month in a row – CSO
New Central Statistics Office figures show that the volume of retail sales rose by 0.7% in October but fell 2.6% on the same month last year.
This marked the sixth month of annual decreases in a row.
With inflation running at an almost 40-year high of 9.2%, the value of retail sales were 1.2% higher than in September and 6.1% up on the year.
Today’s CSO figures show the largest monthly volume increase in sales were in bars, with sales there up 8.9%. Clothing, footwear and textiles sales rose by 7.5% and motor sales increased by 2.9%.
The largest monthly volume decreases were in seen in hardware, paints and glass sales, which fell by 5.4%.
Other Retail Sales – which includes the likes of carpets, games and toys, flowers, fertilisers, pet food and jewellery – were down by 4.8%.
Meanwhile, on an annual basis, sales of clothing, footwear and textiles were up 6.5% in October, while sales in Department Stores rose by 3.8% and bar sales increased by 3%.
The biggest annual volume decreases were seen in sales of Other Retail Sales (-23.5%), Books, Newspapers & Stationery (-12.8%), Food, Beverages & Tobacco (-8.9%), and Furniture & Lighting (-6%).
The CSO said the proportion of retail sales transacted online – from Irish registered companies – slipped to 4.8% in October from 5.3% in September, 5.5% in October 2021 and 6% in October 2020.
Today’s figures also show that the value of retail sales in the fuel sector rose by 18.8% in the year to October, while the corresponding volume rose by 1.9% over the same period, which the CSO said reflect higher prices compared with last year.