Retail sales in Hungary climb 6.7 pc in December – UPDATE

Retail sales in Hungary climbed 6.7 percent year on year in December, the Central Statistical Office (KSH) said on Wednesday.

Adjusted for calendar year effects, retail sales increased by 6.1 percent.

Adjusted food sales rose 4.7 percent, while non-food sales climbed by 8.6 percent and vehicle fuel sales were up 2.6 percent.

For the full year, retail sales rose 6.0 percent, as food sales increased by 3.4pc, non-food sales climbed 9.2 percent and vehicle fuel sales were up 6.0 percent.

In absolute terms, full-year retail sales came to 12,250 billion forints (EUR 36.9bn). Food sales reached 5,536 billion forints, non-food sales stood at 4,698 billion and vehicle fuel sales were 2,016 billion.

Commenting on the data, a state secretary of the innovation and technology ministry told public news channel M1 that retail sales have been growing steadily for six and a half years, peaking above a monthly 1,000 billion forints for nine consecutive months between April and December 2019.

The Christmas shopping season propelled volume in December to 1,250 billion, Péter Cseresnyés added. Recent government measures, wage hikes and the renewed family support system has left more money in people’s pockets, Cseresnyes said.