Despite low employment, shrinking salaries and inflation, retailers saw a 14.4% increase in annual sales to the total value of R516-billion, according to the latest NielsenIQ State of the Retail Nation analysis report.

The data was drawn from the NielsenIQ's Market Track, which includes more than 10,000 supermarkets and garage forecourts, and more than 143,000 independent stores accounting for more than 80% of all retail grocery transactions.

Sales for the five weeks to 3 April were R53-billion, rising 10.1% compared with the same period last year.

Inflation has become a hallmark of the past three years, exacerbated by the perfect storm of the war in Ukraine and, most recently, the floods in KwaZulu-Natal.

Annual consumer price inflation hit 5.9% in March - from 5.7% in February - placing it just below the upper limit (6%) of the South African Reserve Bank's monetary policy target range.

Transport, housing, utilities, food and non-alcoholic beverages were the most significant contributors, with transport contributing 2.1 percentage points to the annual rate.

Fuel prices rose by an eyewatering 33.2% in the 12 months to March, with petrol prices climbing by 32.6% and diesel by 35.1%.

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