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S. Africa Retail Sales Mixed

FILE: Shoppers are seen with new televisions in their cart during Black Friday shopping, at a store in Canal Walk Mall in Cape Town, South Africa, November 25, 2022.
FILE: Shoppers are seen with new televisions in their cart during Black Friday shopping, at a store in Canal Walk Mall in Cape Town, South Africa, November 25, 2022.

South African retail sales fell 0.6% year on year in October after falling by a revised 0.4% in September, Statistics South Africa figures showed on Wednesday.

Despite the year-on-year easing, on a month-on-month basis, sales were up 0.4%.

Sales in the three months to the end of October were up 0.3% compared with the same period last year, the statistics agency said.

Numerous factors are in play affecting retail - inflation, which soared during the first half of 2022, as well as constrictions in supply chains caused by logistics challenges.

As for inflation, it slowed to 7.4% year on year in November from 7.6% in October, data from Statistics South Africa showed on Wednesday.

On a month-on-month basis, consumer inflation was at 0.3% in November compared to 0.4% in the previous month.

The latest figures point to a gradual easing of price pressures in Africa's most industrialized economy, after inflation struck a 13-year high of 7.8% year on year in July.

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