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Eurozone retail sales in December were down -2.7% from +0.8% previously revised to +1.2%. On an annual basis, the figure marks -2.8% as before. This is a notable decline in euro area retail sales towards the end of last year, with retail trade volume declining by 2.9% for food, beverages and tobacco and by 2.6% for non-food products, while it grew by 2.3% for automotive fuels. For 2022 as a whole, retail trade in the region grew by 0.7%, which could have been better if not for rising inflation.