Eurozone January retail sales +0.3% vs +1.0% m/m expected | Forexlive

• Prior -2.7%; revised to -1.6%
• Retail sales -2.3% vs -1.8% y/y expected
• Prior -2.8%

Looking at the details, the volume of retail trade increased by 1.8% for
food, drinks and tobacco and by 0.8% for non-food products, while it decreased by 1.5% for automotive fuels. While that is a positive on the month, the annual comparison shows that higher core inflation is still very much weighing on overall consumption. Compared to January last year, the volume of retail trade decreased by 5.0% for
food, drinks and tobacco and by 1.0% for non-food products, while it grew by 5.4% for automotive fuels.