Hungarian retail sales grow 5.2% in October

Figures

Retail sales in Hungary rose 5.2% in October from the same month a year earlier, accelerating from 4.5% in the previous month, preliminary calendar year-adjusted data released by the Central Statistics Office (KSH) on Wednesday show.

Retail sales were up 5.2% according to unadjusted data after rising 5.0% in September.

Retail food sales rose an adjusted 3.7%. Non-food sales were up by 6.6% and vehicle-fuel sales increased by a sharp 6.5%.

In January-October, retail sales rose 5.1% according to both calendar year-adjusted and unadjusted data. Food sales rose an adjusted 5.2%, non-food sales were up 5.1% and vehicle-fuel sales increased 5.1%.

KSH will update the October data on its website on December 19.

Senior analyst Gergely Gabler of Erste Bank said the fast increase in retail turnover was due to very low inflation and the increased disposable income as well as the mandatory use of tills connected directly to the tax office.

György Vámos, general secretary of the National Trade Association (OKSZ) noted that after slower growth in the summer, retail sales growth accelerated in the autumn months.

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