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Sales volumes rise as prices continue slide

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Retail sales volume figures have shown a continued increase for September compared with a year earlier, but the value of merchandise sold was again down as falling prices continue to hinder the sector's recovery.

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The September increase was the third successive rise in retail sales volumes.

Trade for the month was worth $14.38 million, a 6.1 per cent fall from September last year, while volume was 2.5 per cent higher over the corresponding period.

It was the 23rd consecutive decline in monthly year-on-year sales values, with shopkeepers and department stores continuing to suffer from falling prices.

In September, the consumer price index dropped 6 per cent year on year, representing only a slight slowing in the rate of decline.

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The Government attempted to portray the result positively, noting the increase in sales volumes had broadened in the last three months, with better figures coming from sales of high-value items such as cars and jewellery.

This reflected growing consumer demand, which has been evident since July, but also the effect of heavy price discounting undertaken by retail chains to stimulate spending, a government spokesman said.

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