Preliminary figures for November point to a decline in retail sales, the federal agency said.

Higher prices for staples like gasoline and groceries helped retail sales soar 1.4% to $62.0 billion in October. Total retail sales, however, were flat in terms of volume for the month.

The data points to “a continuation of the flat trend that has persisted throughout the year,” said Andrew Grantham, senior economist at CIBC Capital Markets, in a note to clients.

Initial Statistics Canada figures for November pointed to weaker goods spending – despite Black Friday sales at the end of the month.

The preliminary estimate pointed to a 0.5% decline in retail sales last month, but the agency warned the figure would be revised.

The figures suggest that spending on goods “is nowhere fast disappearing, as inflation and rising interest rates constrain households’ desire and ability to increase spending,” Grantham said.

While services spending should be a small bright spot in the last quarter of 2022, that could ease in the new year, he added.

In the month of October, rising prices boosted gas station sales by 6.8%, while gas station sales by volume fell by 3.3%.

Grocery store sales rose 2.2%, led by supermarkets and other grocery stores, which rose 2.5%.

Core retail sales in October – which exclude gas stations and auto and parts dealers – rose 0.9%.

Sales in furniture and furnishing stores fell by 1.0% in October compared with the previous month.

According to Statistics Canada, electronics and appliance stores saw sales decline 0.9%, apparel and apparel accessories stores saw sales decline 0.6%, and sporting goods, hobby, music, and books stores declined 0.5%.

September-October retail sales rose in most provinces and territories, with the exception of Ontario (-0.3%). In Quebec, they saw a 2.6% increase, while the Montreal region saw a 4.9% increase.

In the Maritimes, retail sales increased 5.9% in Nova Scotia and Prince Edward Island, 3.2% in New Brunswick and 2.9% in Newfoundland and Labrador.