Retail turnover decreased by 3.9%

By: Trademagazin Date: 2023. 02. 08. 11:40

Falling short of expectations, according to the raw data, the volume of retail trade decreased by 4.8%, and when adjusted for the calendar effect, by 3.9% 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 due to high inflation, it jumped by 19.6% to HUF 1,765 billion.

Compared to the previous month, retail turnover decreased by 1%, within which the turnover of food and food-type mixed shops increased by 0.1%, the turnover of non-food-type shops increased by 1%, however, due to the limited availability of fuels, and after the introduction of discounted fuel prices, the turnover of fuel stations fell by 18.4% in one month. Last year, retail sales increased by a total of 5.3%.

The significant slowdown in retail sales was caused by the effect of the sja refund, the 13th month pension, and the six-month gun money, as well as substantially rising inflation and a 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.