Spain Retail Sales Fall For Second Month

(RTTNews) - Retail sales in Spain decreased for a second month in a row in August amid a decline in sales of food as well as due to a slump in demand at service stations and small chain stores amid rising inflationary pressures, preliminary data from the statistical office INE showed on Tuesday.

Seasonally adjusted retail sales at constant prices fell 0.4 percent year-on-year in August, same as in July. This was mainly driven by a 6.7 percent slump in sales at service stations.

Preliminary data released on Tuesday showed that Spain's inflation rose to 4.9 percent in September, the highest level in three-and-a-half years, on surging fuel prices.

Among the main product categories, food sales shrunk 0.9 percent in August, while non-food sales increased 2.6 percent. Sales at small chain stores plummeted 10.0 percent.

Retail sales grew a seasonally adjusted 0.3 percent on a month-on-month basis in August, following a 1.0 percent drop in the previous month. Food sales decreased 0.3 percent.

The statistical office also reported that employment in the retail trade industry decreased at an annual rate of 0.1 percent in August.