As consumers are paying more for basic necessities and are more willing to spend in the face of rising inflation, China’s retail sales increased 22 percent in April from a year earlier. According to the National Bureau of Statistics (NBS), sales of foodstuff and beverage climbed 25.3 percent while spending on grain and edible oil surged by 36.3 percent.

After some research, Song Yu and Liang Hong, Goldman Sachs’ economists said, “With inflation at a decade high level, it is not surprising to see nominal retail sales reaching Read more…

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