By (Reuters) -Australia’s Woolworths Group reported a 4.5% jump in first-quarter group sales on Wednesday, as lower food prices helped drive more sales volumes.
Slowing inflation, combined with the government’s tax cuts and electricity rebates in Australia have also helped to alleviate cost-of-living pressures to some extent.
The country’s top grocer logged total group sales of A$18 billion ($11.80 billion) for the September quarter, compared with A$17.22 billion a year ago, and beating a Visible Alpha consensus estimate of A$17.25 billion.
Woolworths’ biggest earner, the Australian Food segment, posted a 3.8% growth in sales at A$13.60 billion during the quarter, as consumers bought more items due to moderation in food prices.
($1 = 1.5249 Australian dollars)