(MENAFN) Japan's retail sales boosted by 11 percent in March compared to the same month a year earlier, its fastest pace in 17 years, on higher consumer purchases before the sales tax hike planned in April, according to Iran Daily.
Japan raised its sales tax, also known as consumption tax, to 8 percent from 5 percent from 1 April, the first hike in 17 years.
Japan has boosted the tax as it is looking to rein in public debt, while facing rising social welfare costs linked to an aging population.
Japan"s public debt, which is about 230 percent of its gross domestic product, is the highest in the industrialized world.
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