CONSUMER GOODS SALES RISE ON YEAR IN CHINA

CONSUMER GOODS SALES RISE ON YEAR IN CHINA

China's total retail sales of consumer goods amounted to 162.4 billion yuan ($19.57 billion) in July, a nominal increase of 29.7 percent year on year, or 13.2 percent in real terms, the State Statistical Bureau said.

The brisk market is ascribed to growing rural sales, bolstered by the increase in farmers' income after the summer grain harvest. Retail sales on rural markets at and below county level increased 28 percent in July.Fast-selling goods included cold drinks, foodstuffs, casual garments and air conditioners.

The consumer price index and retail price index rose an annual 16.7 percent and 14.6 percent, respectively, in July. That was down 1.5 and 1.4 percentage points from a month earlier.