Dive Summary:

• Retail sales fell 0.4% in March of 2013 with the cause of the drop mainly due to falling prices, according to reports.
• The Bureau of Statistics reports that the largest contributor was clothing, footwear and personal accessories, which dropped 4.2%
• The drop in revenue was partially offset by gains within the retail food and food service industries, both posting gains of 0.8% and 0.2%, respectively.

From the article:

Westpac's economists say some of the price falls may be due to retailers finally passing on the benefits of the high Australian dollar, which has made imported goods cheaper. However, the bank's analysts also warn that it may reflect more aggressive discounting by, and reduced margins for; retailers in an effort to give sales a short-term boost. On a more positive note, the rise in retail sales volumes should be good for the official economic growth figures for the March quarter.