Retail sales in Hungary rose 2.4% year-on-year in August, data released by the Central Statistical Office (KSH) on Tuesday show.
Retail sales rose at the same pace when adjusted for calendar year effects. Adjusted food sales edged up 0.5%, non-food sales rose 5.0% and turnover at petrol stations increased 3.1%. Online and mail-order sales volume, which accounted for 8.3% of retail turnover, increased 12%.
In a month-on-month comparison, retail sales slipped 0.7%, adjusted for seasonal and calendar year effects.
In absolute terms, retail sales came to HUF 1,787 billion in August. Food sales accounted for 48% of the total, non-food sales for 36% and sales at petrol stations for 16%.
In January-August, retail sales rose an unadjusted and adjusted 4.3%. Food sales increased an adjusted 2.2%, non-food sales rose 5.6% and sales at petrol stations were up 7.5%.
In a comment, ING chief analyst Péter Virovácz said the slowdown in year-on-year growth was a "negative surprise", with the extreme heat expected to boost sales of at least some product groups. He attributed the 2.1% month-on-month decline in motor fuel sales to higher prices at the pump.
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