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South Africa Retail Sales Growth Improves In October

South Africa's retail sales growth improved in October, almost reversing a sharp slowdown in the previous month, preliminary figures from Statistics South Africa showed on Wednesday.

Retail sales increased 2.2 percent year-on-year following a 0.6 percent rise in September. In August, sales grew 2.5 percent.

Economists had forecast 1.5 percent sales growth for October.

The household furniture, appliances and equipment component logged the biggest increase of 10.1 percent in October followed by a 6.2 percent rise in sales at other retailers.

Sales at retailers selling pharmaceuticals and medical goods, cosmetics and toiletries rose 4.2 percent and those of stores selling textiles, clothing, footwear and leather goods grew 3.4 percent.

On a month-on-month basis, retail sales rose 0.6 percent in October after a 0.7 percent fall in September. In August, sales grew 0.7 percent.

Data released earlier on Wednesday showed that the consumer price inflation accelerated to 5.2 percent in November, its highest level in 17 months.

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