NGM: the expansion of consumption has been unbroken for the fifth month
The collapse of inflation and the dynamic growth of real wages played an important role in the expansion of retail trade, which, together with the strengthening of consumer confidence, gradually dissolves the motive of caution – stated the Ministry of National Economy (NGM) in its commentary on the May consumption data on Friday.
According to KSH data, the volume of retail trade increased by 3.6 percent in May 2024 compared to the same period of the previous year, so consumption increased by 2.7 percent overall in the first five months of the year on an annual basis, the NGM recalled.
The ministry highlighted as an additional positive that in May compared to the previous year, the volume of turnover in food and food-related mixed retail increased by 6.3 percent, within which the sales volume of food-related mixed stores, which account for 75 percent of food retail, increased by 6.8 percent. .
Related news
In the OECD, inflation slowed significantly in August
Inflation in the countries belonging to the Organization for Economic…
Read more >
Inflationary pressures remain with us
Inflationary pressure still does not ease the companies. Although inflation…
Read more >
German inflation slowed more strongly than expected in September on an annual basis
Inflation in Germany slowed more significantly than analysts had expected…
Read more >Related news
FAO: The time has come to make the right to a healthy, nutritious and affordable diet a reality
The theme of this year’s World Food Day is “The…
Read more >
The size of the production area in the domestic tobacco sector has stabilized
The actors of the sector threw themselves into this year’s…
Read more >
Online subscription loyalty schemes are about to take off in Hungary
According to a representative survey by PwC (earlier GKID) for…
Read more >
