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Inflation spurs retail sales in September

The impact of rising prices becomes more evident the deeper we get into 2021

By Rob Roach, ATB Economics 19 November 2021 less than a minute

After two months of decline, seasonally adjusted retail sales in Alberta posted a 1.7% ($120.7 million) increase in September.

Monthly sales increased in every province except Ontario. The 4.4% ($932.2 million) drop in Ontario pulled down the national total by 0.6%.

Unadjusted sales in Alberta over the first nine months of 2021 were 15.3% higher than over the same period in 2020.

Higher prices help explain only part of the year-to-date improvement, with inflation-adjusted sales still 11.6% higher over the first nine months of 2021 compared to the same nine months in 2020.

With that said, the impact of rising prices becomes more evident the deeper we get into 2021 with nominal sales up by 2.8% in September 2021 compared 12 months earlier but real sales down by 4.3%.

Answer to the previous trivia question: According to investopedia.com, “hyperinflation refers to rapid and unrestrained price increases in an economy, typically at rates exceeding 50% each month over time.”

Today’s trivia question: In what city is Nike, Inc. headquartered?

A rising index reflects improving business conditions in an urban centre, while a declining index signals deteriorating business conditions

A rising index reflects improving business conditions in an urban centre, while a declining index signals deteriorating business conditions


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