Japanese consumer sales rocket in March

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Retails sales in Japan rocketed in March as consumers rushed to spend before Japan’s consumption tax hike comes into force on April 1.

Sales in March rose by 11 percent, the highest monthly rise for 17 years.

Consumers are desperate to avoid the consumption tax rise which is going up from 5 to 8 percent.

Japan wants to bring its public debt under control as welfare costs continue to rise as a result of an aging population.

The county has been fighting falling prices for close to two decades.