Australia's retail sales remained stagnant in July, experiencing no growth compared to June.

Australia's retail sales remained stagnant in July, with no growth compared to June, despite a 0.5% increase in both May and June. The clothing and department store sectors experienced declines, while food retailing was the only sector to see growth. Analysts had anticipated a 0.3% increase. The Reserve Bank of Australia is monitoring weaker spending as it seeks to address persistent price pressures and return inflation to its 2-3% target range.