During January through February 2008, China's retail sales soared 20.2 percent from a year ago, which was the fastest rate of growth in over nine years. Sales reached 1.74 trillion yuan or approximately 245.5 billion U.S. dollars. Leading this growth was a 46.8 percent expansion in jewelry sales, followed by a 41.2 percent gain in grains and cooking oil. Food sales increased 27.9 percent. Price inflation is estimated to have accounted for a sizable portion of the growth in food products. Apparel sales, which are not experiencing any significant price inflation, made strong gains of 24 percent.

Source: Globecotnews