ANZ on Australian data today - retail sales warning flag about household spending

The Australian retail sales data is here from earlier today

I said back on that post that the improvement in the headline number seemed due to rising prices, not rising volumes

ANZ have more along this theme, saying retail sales volumes fell 0.1% in Q3 - the weakest read since Q2 2014.

• And that this "raises a warning flag about household spending"

The graph ANZ accompanies the piece shows this price / volume contribution:

We also got earlier: Australia: RBA "Statement on Monetary Policy"

In that post I highlighted some points I thought indicated cautin from the Bank.

ANZ go a bit further, saying on today"s policy statement that the "RBA firmly on hold with low forecast inflation pointing to mild easing bias"

ANZ on Australian data today - retail sales warning flag about household spending
ANZ on Australian data today - retail sales warning flag about household spending
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