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Bloomberg
Australian retailers recorded a fourth consecutive month of sales gains, suggesting cashed-up households are so far weathering a spike in the cost of living from surging fuel and other prices.
Sales advanced 0.9% in April to a fresh record $24.1 billion and just shy of economists’ estimates for a 1% increase, Australian Bureau of Statistics data showed.
“Cost pressures from retailers have been passed on to consumers but so far that isn’t having any meaningful impact on consumer spending patterns,†said Callam Pickering, an economist at Indeed, who previously worked at the central bank.