(MENAFN) New Zealand's retail sales showed a slowdown in the first quarter of 2014, corresponding to the starts of a new round of interest rate hikes by the Reserve Bank of New Zealand (RBNZ), Xinhua reported. According to the government statistics agency, the volume of total retail trade sales increased 0.7 percent in the January-March period, after a 1.4 percent increase in the previous quarter. Electrical and electronic goods industries were up 5.5 percent, hardware, building and garden supplies rose 2 percent, and food and beverage services were up 1.5 percent. "Ten of the 15 retail industries had higher sales volumes in this latest quarter," Statistics New Zealand business indicators manager said in a statement.