South African June retail sales fall as inflation bites

South African June retail sales fall as inflation bites

Reflects the impact of interest rates and surging inflation on consumers’ pockets South Africa’s retail sales dropped 2.5% year-on-year in June, lower than market expectations, as power shortages and rising inflation sapped consumer confidence. Analysts polled by Reuters had forecast a 0.4 percent increase. Statistics South Africa said on a month-on-month basis, sales were down […]

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