Hungary’s retail sales on the rise
Retail sales in Hungary rose 6.6% in April from the same month a year earlier, preliminary calendar year-adjusted data released by the Central Statistics Office (KSH) on Wednesday show.
According to unadjusted data, retail sales rose 9.2% in April from a year earlier. Retail food sales rose an adjusted 8.2%. Non-food sales were up 6.6% and vehicle fuel sales climbed 3.9%.
KSH stated that the figures for this period are not to be compared with last year’s statistics for the same period as the data sources used are different due to the introduced state monopoly on retail tobacco sales in the middle of 2013. For the sake of comparison, KSH has also published data from its earlier sample-based estimates. Accordingly, retail sales rose 4.2% in April 2014 from a year earlier.
In January-April 2014, retail sales rose 7.0%, food sales climbed 8.2%, non-food sales were up 6.0% and vehicle fuel sales rose 6.0% from a year earlier.
KSH will publish an update of the April data on its website on June 25. Analyst András Balatoni of ING Bank said retail sales growth reflects growing wages and the resulting increase in households' purchasing power. The National Trade Association (OKSZ) said both rising real wages and the low inflation contributed to retail sales growth.
-- Christian Keszthelyi contributed to this article
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