Australian retail turnover reached $39.13bn in July, a 6.6% YOY increase, an 8-month high and well-above long-term trends. The positive results likely reflect good weather for the month and were helped by the FIFA World Cup. Total food sales reached $15.38bn, up 5.5% YOY, which masked a 9.3% YOY increase for foodservice and a 3.1% YOY rise in grocery sales. Meanwhile, the Australian economy grew faster-than-expected in Q2-26, up 2.1% YOY, raising the prospects of an interest rate hike by the RBA as early as this month.