Retail turnover increased by 0.6%
The volume of retail trade grew more modestly than expected, by 0.6% according to the raw data, and also by 0.6% when adjusted for the calendar effect, compared to the same period of the previous year, slowing down sharply compared to the double-digit increases measured in the first months, while the sales revenue jumped by 19.7% to HUF 1,541 billion due to high inflation. Compared to the previous month, retail sales increased by 0.1%. In the first ten months, retail sales increased by 6.4%.
The significant slowdown in retail sales could be caused by the effects of the sja refund, the 13th month pension, and the six-month gun money, as well as the significantly rising inflation and the significant rise in household energy prices for households that exceed the average consumption. The turnover of grocery stores also decreased further, which may have been caused partly by the effect of further accelerating inflation reducing real incomes, partly by precautionary savings due to the partial elimination of overheads, partly by more conscious purchases and the avoidance of food waste.
In food and food-type mixed retail stores, it decreased by 6.7% and in non-food retail stores by 2.3%, on the other hand, in fuel retail, the calendar-adjusted sales volume increased by 27.7% , in which, in addition to panicked waits, transit traffic, which has picked up compared to last year, may have also played a role. The volume of sales increased by 0.1% in industrial goods-type mixed stores, by 13.1% in textile, clothing and footwear stores, by 4.1% in book, computer technology and other industrial goods stores, by 4.1% in second-hand goods stores It increased by 8.6%, however, it decreased by 3% in furniture and technical goods stores, and by 5.1% in drug, medical product, and perfume stores. The volume of parcel delivery and internet retail, covering a wide range of goods and accounting for 10% of the retail turnover, decreased by 9.8%.
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