Retail sales growth slips to 22% in October

China’s retail sales grew 22% year-on-year in October, down slightly from 23.2% in both September and August, on weaker consumer sentiment amid a slowing economy, state media reported. Total sales reached US$148 billion for the month. Grain and edible oil sales rose 10.2% year-on-year, compared with 28.6% in the first three quarters. Meat, poultry and egg sales rose 13.1%, and car sales rose 19.6%, down from 25.6% and 29.1%, respectively. Rises in consumer prices, however, slowed to 4%, easing for the sixth consecutive month.