Total retail sales grew 6.4% year over year

South African consumer spending showed a modest uptick in October this year, with total retail volumes for the month rising 2.3% year-over-year after removing the effects of inflation.

The Mastercard Spending Pulse 2017 report shows that total retail sales for October 2017 grew 6.4% year-over-year, reflecting a welcome decrease in inflationary pressure.

The report indicates an uptick in spending as we approach the festive season. However, consumers continue to exercise caution in the face of inflation, high unemployment and business uncertainty.