Retailers association addresses food price inflation in Hungary after January retail sales climb
Local retailers are offering consumers discounts on an extraordinarily broad range of products to mitigate food price inflation, the Hungarian National Commerce Association said on Thursday.
The association pointed to price increases by suppliers and called for cooperation to address inflation. The association voiced its full support for government readiness to take steps to protect households against food price inflation.
Retail sales climb significantly in January
Retail sales in Hungary rose 4.7pc year-on-year in January, data released by the Central Statistics Office (KSH) on Thursday show. Retail sales climbed at the same pace when adjusted for calendar year effects.
Adjusted food sales increased 4.7pc,
non-food sales rose 5.6pc and vehicle fuel sales climbed 1.9pc. Retail sales increased 2.2pc in a month-on-month comparison, adjusted for seasonal and calendar year effects. In absolute terms, retail sales came to HUF 1,477bn in January. Food sales accounted for 49pc of the total, non-food sales for 35pc and sales at petrol stations for 16pc.
We wrote yesterday that the National Economy Ministry pointed to the need to stop “unacceptable” price increases and called on retail chains to indicate their plans to voluntarily cut staple food prices by early next week in a statement on Wednesday.
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