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Irish Mirror
Irish Mirror
National
Cate McCurry

Volume of retail sales down 1.3% in Ireland in June amid rising inflation

The volume of retail sales was down 1.3% in June compared to the previous month, and fell by 6.6% over the last year, new figures show.

The data, released by the Central Statistics Office (CSO), shows the largest monthly decrease was in electrical goods (down 13.5%) followed by hardware, paint and glass (11%).

Sales of clothing and footwear dropped by 6.3%.

Read More: Irish inflation rate 2022: What is inflation, why is it so high in Ireland and what happens next?

The largest increase in sales was in furniture and lighting, at a rise of 25.9% compared to the previous month.

Sales at department stores grew by 19%, while books, newspapers and stationery sales increased 10%.

Bar sales jumped by 54% compared to June last year, while pharmaceuticals, medical and cosmetic articles were also the only sectors that showed an annual volume increase.

However, the CSO said comparisons in bar sales with the previous year started at a low base when Covid-19 restrictions still applied.

The volume of retail sales excluding motor trades fell by 2.1% in the month and dropped by 6.4% in the year when compared with June 2021.

The volume of retail sales in June this year was 2.4% higher than pre-Covid-19 levels in February 2020.

The proportion of retail sales transacted online – from Irish registered companies – was 4.9% in June compared with 5.7% in May, 4.9% in June 2021 and 6.7% in June 2020.

The value of retail sales in the fuel sector rose by 28.5% in the year to June 2022, while the volume fell by 6.9% over the same period, reflecting higher prices compared with the previous year.

Stephanie Kelleher, statistician in the CSO’s business statistics division, said: “Retail sales fell by 1.3% in June 2022 when compared with May 2022 on a seasonally adjusted basis.

“On an annual basis, retail volumes were 6.6% lower than in June 2021.”

Two sectors showed an annual increase in the volume of sales compared with June 2021.

While bar sales largely recovered over the previous year, bar sales remained 24% lower than the pre-Covid-19 level in February 2020.

Pharmaceuticals, medical and cosmetic articles also showed an annual increase of 6.6%.

The sectors which showed the largest annual reductions in volume were other retail sales at almost 30%, food, beverages and tobacco at 14.6% and motor trades at 14.5%.

Compared with February 2020, the volume of all retail sales in June 2022 was 2.4% higher.

The highest increases were seen in pharmaceuticals, medical and cosmetic articles at 25%, clothing and footwear, hardware, paints and glass grew by 16.2%, and department stores by 13.6%.

The largest decreases in the volume of sales in June 2022 when compared with February 2020 levels were bars, books, newspapers and stationery and fuel.

The value of retail sales was 0.3% lower in June 2022 than in May 2022 and was 0.9% lower than June 2021.

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