Inflation buoyed retail sales in June
Helped by higher prices at the pump, year-over-year gas station sales jumped in Alberta by 51.1%
By Rob Roach, ATB Economics 22 August 2022 1 min read
Seasonally-adjusted retail sales revenue in Alberta was 0.5% higher in June than in May while retail revenue in Canada as a whole increased by 1.1%.
On a year-over-year basis (i.e., comparing June 2022 to June 2021), unadjusted sales in Alberta rose by 6.0% ($484.8 million) and by 11.1% ($6.8 billion) nationally.
In volume* terms, however, year-over-year national sales increased by only 2.2%.
Helped by higher prices at the pump, year-over-year gas station sales jumped in Alberta by 51.1% ($460.2 million) and by 55.7% nationally ($3.0 billion).
Despite inflation, year-over-year food and beverage store revenue in Alberta was down by 2.6% (in part because more people were eating out at restaurants again) while health and personal care store revenue was down by 1.5%.
A drop in used car sales brought down motor vehicle and parts dealer revenue in the province by 7.0% in June 2022 compared to the same month in 2021.
Retail categories in Alberta that posted strong year-over-year numbers included clothing stores (+3.6%); jewellery, luggage and leather goods stores (+36.8%); sporting goods, hobby, book and music stores (+12.7%); electronics and appliance stores (20.4%); and cannabis stores (+16.1%).
*Statistics Canada does not provide volume estimates for retail sales at the provincial level.
Answer to the previous trivia question: The first Eaton's catalogue was a 34-page booklet issued in 1884.
Today’s trivia question: In what year did the Eaton’s department store chain go bankrupt?