Hungarians keep buying less: retail sales plummet
Retail sales in Hungary dropped by an annual 7.8% in September, dropping for the tenth month in a row, the Central Statistical Office (KSH) said on Wednesday.
According to the latest data from the Hungarian Central Statistical Office (KSH), retail sales are still struggling. So far this year, sales are almost a tenth lower than a year ago. Petrol stations are suffering the biggest drop, Economx writes.
The volume of retail sales fell by 7.3% in September compared to the same period of the previous year, while it was essentially unchanged compared to the previous month, the KSH said.
According to the flash release, the volume of retail sales in September decreased by 7.8% in raw data and by 7.3% in calendar-adjusted data, compared with the same period of the previous year.
Calendar-adjusted sales volumes were
down by 2.3% in food and grocery retail, 7.5% in non-food retail and 19.9% in fuel retail.
According to KSH data, the volume of retail sales was 9.3% lower in January-September this year compared to the same period last year, adjusted for calendar effects. Sales volumes fell by 6.1% in food retailing, 7.3% in non-food retailing and 21.1% in fuel retailing.
Did you know that the Hungarian democracy is in shambles? Read our report HERE.
It’s not only retail that is in danger: Hungary’s restaurant industry also faces another year of uncertainty.
We have TIME.
We have no reason to just shop at SPA, Lidl Aldi Penny’s Auchan.
We have time, and in having time – grows in factual knowledge the MASSIVE mark-up of the BIG Lot of Supermarkets still in there food ranges.
We go into Asian run supermarkets and the exact products carried by the BIG Lot – are substantially lower in price – like a Sauce named after an English city the Big Lot wanted 1250 huf to 1300 huf a bottle.
We from our Asian run supermarket paid 900 huf.
Personally, and we have comfortable disposable in-come, reside in District 5, enjoy muchly “eating in” our own house and food home made production, market for Fresh produce we adore, but WE are BIG TIME being Ripped off or exploited by the BIG Lot, which is APPALLING, for those in millions growing in Hungary, who daily fight to survive or feed there family.
The Orban “mob” propaganda out INFLATION is FALLING.
What “bulls do in a paddock” – I say to that, as Inflation in Hungary, not helped by the on-going signs of a collapsing Economy and major other DISASTERS happening in the componentry of the Financial & Economic picture/landscape of Hungary, the European Union “divorce” – the word INFLATION it is NOT under control and could possible EXPLODE in Hungary.
Nothing is nor in the immediate nor short term, highly probably long term, is going to get CHEAPER in Hungary.
Would be nice to get a bit of perspective on this from our Politicians, instead of harping on about Christian values, illegal immigrants and The Dollar Left.
https://tradingeconomics.com/hungary/balance-of-trade
Spoilers: “exports fell by 5.1% year-on-year” … “while imports declined at a much faster rate of 19.4%”