Retail sales jumped 9.8% year-on-year for the misty, mellow and as it turns out fruitful month of April, with highest growth reported among retailers of textiles, clothing, footwear and intriguingly-named “leather goods” at a whacking 16.9%, followed by pharmaceuticals, cosmetics and toiletries at 13.7% and furniture, appliances and equipment at 13.1%. The increase from March was 2.3%, with growth for the year so far at a pleasing 6.7% from last year. And retail inflation, as many a hangdog retailer would be happy to tell you if you bought them a drink and a sandwich, is trundling along at 1.8%, a rate which hardly makes buying forward for handsome future returns worth the effort. However, increased retail input prices (like salaries, transport and electricity) and increased demand, should see inflation tend northward later this year.
Comment: Comment: On the retail sales front, our beautiful young wife has been stretching the monthly fine imported footwear budget of late, come to think of it.