Retail spending soared higher in September, as shoppers embarked on a spending spree, adding further pressure on the Reserve Bank to hike rates on Melbourne Cup Day. Turnover for retail goods and services grew 0.9 per cent, fresh data released by the Australian Bureau of Statistics on Monday shows, led by a sharp jump in purchases at department stores and for household goods. Economists were expecting an increase of just 0.3 per cent, following a subdued 0.2 per cent increase in August. Following the release of hotter-than-expected quarterly inflation numbers last week, the retail spending figures will further ... (full story)