Japanese retail sales rise, driven by food and fuel
Jul 31, 2018
Japanese retail sales increased by 1.8 per cent in June thanks to strong food sales and rising petrol prices.
According to the Ministry of Economy, Trade and Industry, Japanese retail sales reached ¥11.8 trillion (US$106.25 billion) during the month. It was the eighth consecutive monthly rise.
Rising crude oil prices flowed through to petrol pump prices, which surged 16.7 per cent year on year. Sales of cosmetics and pharmacy products rose 3.9 per cent, largely due to demand from overseas visitors.
Food and beverage sales rose 1.5 per cent, with prepared meals and meat fuelling growth.
Supermarket sales rose 1.9 per cent, while department store sales rose 2.6 per cent, which the ministry said was due to there being one more Saturday in June this year than last year.
Inside Retail Asia