Retail sales pick up 10.4% y-o-y in September

Retail sales real volumes grew 10.4% y-o-y in September (+ 5.1% in 9M10), accelerating from +9.7% in August, according to State Statistics Committee of Ukraine. This signals further recovery in domestic consumer demand, although accelerating inflation (to 10.5 y-o-y in September) and increased inflation expectations might pose a risk to this trend in the coming months.