10/13/2010

South Africa's retailers saw a 4.6% increase in sales in August, but economists had expected a jump of about 8.5%. The stronger rand reduced import costs and drove down inflation. "The strong rand will lead to further deceleration in retail inflation in coming months," said Kgotso Radira, an economist at Investec. "For the remainder of the year, we expect the rate of retail sales growth to slow, but remain positive."

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