The Central Statistical Office (KSH) said on Tuesday that Hungary's retail sales increased by an annual 2.6% in June, according to unadjusted data. Based on calendar-year adjusted data, sales were down by 0.1% on the previous month.
Adjusted food sales increased by 3.2%, non-food sales climbed 3.6% and vehicle fuel sales inched up 0.5%. During the period of January-June, the volume of retail trade went up by 2.7%, KSH said. The national economy ministry hailed the “sixth of unbroken monthly increases” in consumption, noting that turnover of grocery stores, accounting for 75% of the total retail trade, was up 4.1%. “Hungarian families spent a total 594 billion forints [EUR 1.5bn] more [on groceries] in June, 20 billion forints more than in June last year,” the ministry’s statement said. The ministry also noted a 14% increase in online retail trade, which accounts for 7.9% of the total. The upswing in retail trade has been supported by lower inflation, the statement said, adding that the government’s “effective measures will keep inflation at a low level”. They noted that inflation was 3.7% in June, with annual food price inflation reduced to 1.1%. “Thanks to an uninterrupted increase in real wages in the past nine months and gradual lifting of cautionary measures, domestic consumption is being restored” to earlier levels, the ministry said.