Inflation set to drive pre-Christmas retail sales even higher to a record $66b

 Inflationary pressures are set to lift retail spending in the festive season to an all-time high in 2022, with the Australian Retailers Association (ARA) forecasting an extra $2.1 billion will be splurged by consumers and boost pre-Christmas trading to a record $66 billion.

The figure forecast for the traditional November-December Christmas sales period is up from $63.9 billion estimated by the peak retailing body in October, with the updated total representing a 6.4 per cent increase on the same time last year.

However, the ARA concedes much of the increase is due to higher prices, along with an increase in food and hospitality spending.

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