- Prior -3.0%
- Retail sales +7.8% vs +9.1% y/y expected
- Prior +2.0%
A weaker-than-expected rise in euro area retail sales, with the report showing that the drag comes from weaker sales of fuel and muted spending on food and online. I would argue in part that higher inflation costs are also seeping into the economy, dampening consumption activity and consumer purchasing power.
