Australian Retail Sales Record Sharpest Growth in Four Months Despite Inflationary Pressure

Shoppers make their way through the Queen Victoria Building in Sydney, Australia, on Aug. 16, 2022. Lisa Maree Williams/Getty Images

Despite growing living cost pressures Australian consumers are still maintaining their spending habits, with retail sales scoring a higher than expected gain in July.

According to data from the Australian Bureau of Statistics (ABS), total retail turnover climbed 1.3 percent in July, far exceeding expectations of a rise of 0.3 to 0.4 percent from analysts.