Japan: Retail Sales Grow When A Go Up Oil Flows

In Japan retail sales inched up 1.1 percent to 12.2 trillion yen, $116.7 billion, in March from a year earlier helped by increased spending on fuel because of higher gasoline prices.

It was the eighth straight month that retail sales rose and followed a 3.2 percent increase in February.

Sales at fuel retailers rose 4.0 percent in March from a year earlier and sales at auto retailers were up 2.4 percent.

The ministry said sales at large retail stores rose 0.2 percent after adjustments for the change in the number of stores, the second straight monthly rise, and increased 1.8 percent on an unadjusted basis.

It said sales at the wholesale level rose 1.8 percent and commercial sales, or combined sales at the wholesale and retail levels, were up 1.7 percent.

In the full year to March 2008, retail sales rose 0.5 percent, sales at the wholesale level expanded 4.5 percent and commercial sales rose 3.6 percent.

($1 = 104.44 yen)