Retail sales in Hungary increased by 15.7% year on year in April, the Central Statistical Office (KSH) announced on Friday. Adjusted for calendar year effects, retail sales rose 15.8%, posting double-digit growth for the second month in a row.
Adjusted food sales increased 7.1%, non-food sales increased 15.4% and vehicle fuel sales jumped 37.3%. In absolute terms, retail sales amounted to 1,373 billion forints (3.5 billion euros). Food sales accounted for 46% of the total, non-food sales 36% and gas station sales 18%.
A detailed breakdown of the data shows
clothing and footwear sales soared 66.8%,
sales of computers and other electronics rose 27.0% and sales at second-hand stores soared 48.1%.
For the January-April period, retail sales rose 11.8% adjusted and unadjusted year-on-year. Adjusted food sales increased 2.6%, non-food sales increased 16.4% and vehicle fuel sales increased 30.0%.
Takarékbank chief analyst Gergely Suppán said retail sales growth could gradually slow over the next few months as the sales surge enters the base period, while some temporary factors come to an end. , but he added that the expansion could “stay dynamic”. He estimated full-year retail growth at around 10%.
Erste Bank macroeconomic analyst János Nagy noted
the impact of wage increases and tax transfers at the start of the year on retail sales growth,
and said the pace of growth could slow amid fiscal consolidation and high inflation.