Estonia Retail Turnover Fall Continues in October
Estonian people continued to shop less as they reduced the spending on groceries amid high inflation and slower wage growth, preliminary retail sales data for October showed Tuesday. Retail sales decreased 4% year-on-year following a 6% fall in September, Tallinn-based Statistics Estonia (SE) said.
"The decrease in retail trade turnover in October was influenced the most by grocery stores, where turnover fell by 7% year-on-year," SE analyst Johanna Pihlak said.
Estonia's consumer price inflation eased for the second successive month in October, though it remained strong overall at 23%, official data showed earlier in the month.
Sales of manufactured goods dropped 4% year-on-year, led by a 14% slump in sales in stores selling household goods and appliances, hardware, and building materials.
Department store sales shrunk by around 6% and those of pharmaceutical and cosmetics stores dropped 4%. Meanwhile, automotive fuel sales grew 6%. Compared to the previous month, retail sales were unchanged in October, while on a seasonally and working day adjusted basis, they fell 1%.
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