Japanese retail sales rose for a ninth straight month in November, data showed on Tuesday, as the lifting of COVID-19 border controls and the government's domestic travel subsidy helped consumer demand.
But from the previous month, sales fell from October, with price increases in daily necessities weighing on Japanese households asrate hit a fresh 40-year high, indicating price hikes were broadening.
Retail sales grew 2.6% from the year earlier but short of a median forecast of 3.7%. The pace of annual growth in sales, a barometer of private consumption, slowed from 4.4% in October and 4.8% in September. A government domestic travel subsidy campaign to help the pandemic-hit tourism industry, which started in mid-October, also encouraged people to spend on travel and travel goods.fell to 2.5% in November, in line with a forecast in a Reuters poll, and down from 2.6% in October.
Singapore Latest News, Singapore Headlines
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