Euro area retail sales recovered in September despite the record inflation dampening the spending power and consumer confidence, data published by the statistical office Eurostat showed. Retail sales rose 0.4 percent from August, when they stagnated, which was revised from a 0.3 percent fall. Retail sales shrunk 0.6 percent after a 1.4 percent decline in August, which was revised from a 2.0 percent drop. In the euro area, rising inflation is eating into consumer spending power. Inflation advanced to a historic high of 10.7 percent in October largely due the 41.9 percent surge in energy prices.Powered by Commodity Insights
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