Less sale from basic food too
According to KSH the retail sales of food products dropped drastically in the first seven months.
Hungarian retail sales dropped by 0.4% month on month in
July, according to data adjusted for calendar and seasonal effects, the Central
Statistics Office (KSH) has reported. This was the seventh consecutive month
when the KSH detected a m/m decline, although this fall was the same as in
June.
The continuous decline in monthly readings left a scar also
on the indicator gauging 12-m changes, which dropped further to -4.2% from
-3.6% in June. The new yr/yr data is the lowest figure in more than a decade.
The last time the KSH detected such an erosion was during the austerity
measures of 1995-96.
The average decline in retail sales was 2% in the
January-July period and 3.3% once car sales are included. In the same period,
real wages dropped by more than 6%.
Hungarian retail sales totalled HUF 529.9 billion in July at
current prices, up from HUF 515.5 bn in June, but up from HUF 518.3 bn in July
2006.
Calendar-adjusted food sales fell 1% yr/yr in July, against a 0.8% decline in
the previous month. The m/m drop remained unchanged from June at 0.1%. From the
beginning of the year there was a drop of 0.4% yr/yr in this category.
Non-food sales eased by 6.6% yr/yr versus a 5.7% drop in the previous month.
From the beginning of the year, the KSH detected a 3.2% decline.
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