In December, the strong consumption of the Hungarian population was realized more abroad than in the turnover of domestic stores

The statement recalled that, based on data from the Central Statistical Office, retail turnover increased by 2.6 percent overall in 2024 compared to the previous year.

The trend-like expansion of retail turnover clearly indicates the domestic economic turnaround and the continuous strengthening of the middle class. In addition to the increase in real wages that has lasted for more than a year and the strengthening of the purchasing power of the population, high employment also contributed to this.

The government continues to work to ensure that the financial situation of families continuously improves, so that they can spend more, travel more, and consume more.

According to the data of the Central Statistical Office, adjusted for calendar effects, retail sales in December 2024 expanded by 0.1 percent on an annual basis, a decrease of 1.2 percent compared to the previous month, they added.

According to the statement, the slowdown is a temporary phenomenon, mainly caused by the increased willingness of Hungarian families to travel abroad and the decrease in fuel sales – as a result of a significant base effect.

In December, the sales volume of fuel retail decreased by 6.9 percent on an annual basis and by 3 percent on a monthly basis. Taking advantage of the six-day long Christmas weekend, Hungarians traveled abroad in record numbers, which reduced the performance of retail trade at the end of December.