Retail Sales Climb 15.7% in April in Hungary
- 7 Jun 2022 10:10 AM
- Hungary Matters
Retail sales in Hungary rose by an annual 15.7% in April, the Central Statistical Office (KSH) said on Friday. Adjusted for calendar year effects, retail sales climbed by 15.8%, showing double-digit growth for the second month in a row.
Adjusted food sales increased by 7.1%, non-food sales rose by 15.4% and vehicle fuel sales jumped by 37.3%. In absolute terms, retail sales came to 1,373 billion forints (EUR 3.5bn).
Food sales accounted for 46% of the total, non-food sales for 36% and sales at petrol stations for 18%.
A detailed breakdown of the data shows sales of clothing and footwear climbed by 66.8%, sales of computer and other electronics increased by 27.0% and sales in second-hand shops climbed 48.1%.
For the period January-April, retail sales rose by an adjusted and unadjusted 11.8% year-on-year.
Adjusted food sales increased by 2.6%, non-food sales rose by 16.4% and vehicle fuel sales climbed 30.0%.
Takarékbank chief analyst Gergely Suppan said retail sales growth could gradually slow in the coming months as higher sales enter the base period, while some temporary factors end, but he added that the expansion could “remain dynamic”. He put full-year retail growth around 10%.
Erste Bank macroeconomic analyst János Nagy noted the impact of higher wages and fiscal transfers early in the year on retail sales growth, and said the pace of growth could slow against the backdrop of budget consolidation and high inflation.
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