Retail sales down in Hungary

Retail sales in Hungary fell by an annual 3.9 percent in January, or 4.5 percent when adjusted for calendar-year effects, the Central Statistical Office (KSH) said on Monday.

Retail sales dropped for the second month in a row, KSH said.

Adjusted food sales fell by 4.8 percent, non-food sales by 1.5 percent and vehicle fuel sales by 9.7 percent.

In absolute terms, retail sales came to 1,333 billion forints (EUR 3.5bn). Food sales accounted for 48 percent of the total, non-food sales for 34 percent and sales at petrol stations for 18 percent.

The volume of sales decreased by 4.8% in specialized and non-specialized food retailing. The volume of sales decreased by 6.7% in non-specialized food and beverages shops accounting for 76% of food retailing and rose by 0.3% in specialized food, beverage and tobacco stores.

The turnover of non-food retailing decreased by a total of 1.5% in volume. Sales volumes rose by 13% in textiles, clothing and footwear shops, by 5.6% in books, computer equipment and other specialized stores, remained unchanged in second-hand goods shops, while sales volumes decreased by 1.9% in non-specialized shops dealing in manufactured goods, by 2.7% in pharmaceutical, medical goods and cosmetics shops and by 6.5% in furniture and electrical goods stores.

The volume of mail order and internet retailing accounting for 8.6% of all retail sales and involving a wide range of goods fell by 7.6%.

According to an expert interviewed by rtl.hu, the price freeze is likely to be abolished in the last weeks of spring or early summer. But, as the expert warns, the prices of the relevant products could even double afterwards. Details HERE.