Food and fuel boost japanese retail sales rise
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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.
Questions & Answers
Q.What was the total value of Japanese retail sales in June?
What was the total value of Japanese retail sales in June?
Japanese retail sales reached ¥11.8 trillion, which is equivalent to US$106.25 billion, during June. This figure was reported by the Ministry of Economy, Trade and Industry.
Q.What main factors contributed to the increase in retail sales?
What main factors contributed to the increase in retail sales?
The rise in retail sales was primarily driven by strong food sales and an increase in petrol prices. Also, sales of cosmetics and pharmacy products saw a notable boost.
Q.How much did petrol prices increase year on year?
How much did petrol prices increase year on year?
Petrol pump prices surged by 16.7 per cent year on year. This increase was attributed to rising crude oil prices, which had a direct impact on the cost of petrol.
Q.Which retail sectors showed specific growth in June?
Which retail sectors showed specific growth in June?
Supermarket sales rose by 1.9 per cent, and department store sales increased by 2.6 per cent. Food and beverage sales, particularly prepared meals and meat, also contributed to growth.
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