Hungarian retail sales show continued cautious consumer spending, latest data reveals

According to calendar-adjusted figures, retail sales in Hungary rose 3.3pc year-on-year in February, according to data released by the Central Statistics Office (KSH) on Monday.

Retail sales edged down 0.2pc according to unadjusted data. Adjusted food sales increased by 3.5pc, non-food sales rose by 5.0pc, and vehicle fuel sales inched by 0.4pc. Retail sales edged down 0.6pc in a month-on-month comparison, adjusted for seasonal and calendar year effects.

In absolute terms, retail sales in February reached HUF 1,446bn (EUR 3.55bn). Food sales accounted for 50 percent of the total, non-food sales for 35 percent, and sales at petrol stations for 15 percent.

In January-February, retail sales were up 4.0pc according to calendar-adjusted data.

Commenting on the data, the National Economy Ministry said the increasing retail turnover reflected strengthening consumer confidence. It noted that the recently introduced cap on food markups had been effective as the prices of the affected products had fallen by more than 18pc. Thanks to growing real wages and more affordable retail prices, consumption should continue to increase in the coming months, the ministry said.

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