Analysts: in August, fuel turnover maintained the growth of retail trade turnover
In August, fuel traffic was almost the only factor that kept retail sales afloat, and analysts speaking to MTI do not rule out a decrease in consumption in the future due to the fall in real wages, utility bills and precautionary savings in preparation for the difficult economic situation.

Due to rising interest rates, the slowdown in retail sales may continue
According to the report published by the Central Statistical Office (KSH) on Thursday, the volume of retail trade in August exceeded the previous year by 3.3 percent according to raw data, and by 2.4 percent adjusted for calendar effects.
According to Dávid Németh, the leading macroeconomic analyst of K&H Bank
the increase in retail sales is almost only due to fuels. The decrease in demand in retail trade continued, which can be explained primarily by the rise in prices and, in connection with this, the decline in purchasing power. August is the third month in order – after June and July – when the turnover of shops selling food and food-related products moderated on an annual basis, but the turnover of non-food products is also increasingly modest, essentially stagnated in August. In practice, fuel accounts for the minimal increase in total traffic
he stated.
In the coming months, purchasing power will decrease even more, and real wages will fall due to high inflation. In addition, there was an increased demand for fuel due to summer travel in August, and this factor will be eliminated in the following months. According to Dávid Németh, based on the current outlook, retail turnover will most likely shrink in the last quarter of this year and the first quarter of 2023.
MTI
Related news
KSH: in September, consumer prices exceeded the values of the same month of the previous year by an average of 4.3 percent
🎧 Hallgasd a cikket: Lejátszás Szünet Folytatás Leállítás Nyelv: Auto…
Read more >KSH: industrial production fell by 7.3 percent compared to the same period of the previous year and by 2.3 percent compared to the previous month
🎧 Hallgasd a cikket: Lejátszás Szünet Folytatás Leállítás Nyelv: Auto…
Read more >Wages and revenues
🎧 Hallgasd a cikket: Lejátszás Szünet Folytatás Leállítás Nyelv: Auto…
Read more >Related news
Export champion with innovation in the sugar market curve – Budapest industry roundtable on the competitiveness of confectionery manufacturers
🎧 Hallgasd a cikket: Lejátszás Szünet Folytatás Leállítás Nyelv: Auto…
Read more >MOL Fresh Corner turns 10 – from Olympic champions to Tankcsapda, everyone celebrates the country’s most popular hot dog
🎧 Hallgasd a cikket: Lejátszás Szünet Folytatás Leállítás Nyelv: Auto…
Read more >Lidl is organizing an exclusive customer party in one of its Budapest stores
🎧 Hallgasd a cikket: Lejátszás Szünet Folytatás Leállítás Nyelv: Auto…
Read more >