NGM: retail turnover increased by more than 3 percent in February – consumer confidence continues to strengthen

By: Trademagazin Date: 2025. 04. 07. 12:59

🎧 Hallgasd a cikket: Nyelv: Sebesség: 1.05×

In the first two months of the year, the volume of retail trade increased by 4 percent. The increase in turnover indicates a clear strengthening of consumer confidence. Hungarian households are planning more and more confidently, which has a noticeable effect not only on store turnover, but also on the recovery of tourism – stated the Ministry of National Economy (NGM) in its commentary on the latest report of the Central Statistical Office (KSH).

The favorable processes are primarily based on high employment and the continuous growth of real wages for 17 months.

The ministry cites the adjusted data of the KSH, according to which the volume of retail trade in February increased by 3.3 percent year-on-year (decreased by 0.6 percent compared to the previous month). The increase in turnover in food and food-related mixed stores reached 3.5 percent, in non-food retail 5.0 percent, and in fuel retail 0.4 percent.

As highlighted, the government aims to further strengthen the financial security of Hungarian families, and to this end, it is launching the largest tax reduction program in Europe, and is also fighting against price increases.

The infant care fee (CSED) and the childcare fee (GYED) will become tax-free, lifelong personal income tax exemption for mothers with two and three children will be introduced, and the family tax allowance will be doubled in two steps – they listed.

They also mentioned that the government will continue to take decisive action against unjustified price increases in the interests of families and pensioners, which is why it introduced margin reduction. The effect of the measure proved to be significant, with the prices of the affected products becoming more than 18 percent cheaper.

The government will continue to monitor food prices in the future to ensure compliance with the measure, and regular inspections by the National Trade and Consumer Protection Authority will help ensure that retail chains comply with the regulations, thereby providing consumers with access to more affordable products.