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Italy inflation-adjusted retail sales fell in 2022

by Staff GBAF Publications Ltd
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ROME (Reuters) -Italian retail sales increased in value terms but decreased in volume in 2022 compared to the previous year, with consumers suffering from high inflation, data showed on Wednesday.

National statistics bureau ISTAT reported that sales increased 4.6% in value terms against a 0.8% decline in volume, with the contraction in food goods (-4.2% in volume) outweighing a 1.9% increase in non-food products.

Consumer price inflation in Italy based on the EU-harmonised index grew by 8.7% in 2022 – the largest increase in more than 30 years – driven by soaring energy prices.

In December alone retail sales fell 0.7% percent in volume terms after a +0.4% rise in November.

In unadjusted year-on-year terms they were down 4.4%.

(Reporting by Valentina Consiglio, editing by Gavin Jones)