Retail sales post largest increase in 5 months in October driven by food, gas

A man pumps gas in Montreal, Friday, March 4, 2022. THE CANADIAN PRESS/Graham Hughes

Statistics Canada says retail sales in October posted their largest increase in five months, led higher by gains at gasoline stations and food and beverage stores.

The agency says retail sales increased 1.4 per cent to $62.0 billion in October.

However, Statistics Canada also says that its preliminary estimate points to 0.5 per cent drop in retail sales for November but cautioned the figure would be revised.

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For October, higher prices boosted sales at gasoline stations by 6.8 per cent, while sales at gasoline stations in volume terms fell 3.3 per cent. Sales at food and beverage stores rose 2.2 per cent, led higher by supermarkets and other grocery stores, which gained 2.5 per cent.

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Core retail sales in October – which exclude gasoline stations and motor vehicle and parts dealers – rose 0.9 per cent.

In volume terms, overall retail sales were unchanged in October.

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