Australian retail sales unexpectedly fell in October, while UK shops experienced a significant drop in inflation. Consumers in Australia held off for Black Friday sales, indicating a slowdown in consumer spending. The Reserve Bank of Australia is expected to hold steady next month, but there is a 60% probability of raising rates early next year. In the UK, retailers are trying to attract shoppers ahead of the holiday period, but higher taxes and an increase in the minimum wage are pushing up costs, raising concerns about the impact of the Bank of England's restrictive monetary policy on economic activity.

Retail Sales and Inflation