Food retail turnover grows by 2.5% in Q2, but we buy less

Food

Food retail turnover in Hungary grew by 2.5% in the second quarter of 2016 compared to the corresponding quarter of the previous year, a consumer research analysis by Nielsen shows, as reported yesterday by online portal index.hu. The increase in turnover at retailers was apparently due to price hikes, as the actual amount of sold decreased 0.2%, Nielsen said.

According to a summary released to Hungarian news agency MTI, the second quarter saw the lowest measured increase in the value of food retail turnover in Hungary in the past three years, although the 2.5% increase was still significantly greater than the average growth of 0.8% in Europe. The Hungarian indicator was the sixth largest on the continent, maintaining Hungary at the forefront in this regard.

Prices of food, mixed household goods and cosmetics increased by 2.7% on average in Hungary in Q2 2016, compared to Q2 2015, while prices rose an average 0.7% in Europe.

Based on the Nielsen study, the food retail sector in Europe as a whole performed poorly.

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