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Retail spending is continuing to decline as people opt to spend less money, according to new Stats NZ data. The total volume of retail sales fell 1 percent in the June quarter compared to the March quarter in the third consecutive quarterly decline, following on from March and December. Infometrics principal economist Brad Olsen says inflation and interest rates are finally hitting consumers, forcing households to tighten their belts as more people join the economy. LISTEN ABOVESee omnystudio.com/listener for privacy information.