Wallets remain squeezed and people are opting to buy less, Stats NZ data shows. The total volume of retail sales fell 1% in the June quarter compared to the March quarter. It is the third consecutive quarterly decline, after a 1.6% fall in March and 1.1% drop in December. The total volume of seasonally adjusted retail sales was $25 billion. Without adjusting for seasonal patterns and price effects, the value of total retail sales was $29b in the quarter, up 2.5% ($725 million) compared with the June 2022 quarter. The largest contributors to the fall in the quarter were food and beverage services, down 4.4% compared ... (full story)