According to the flash report of the Hungarian Central Statistical Office (KSH), in August the volume of retail sales increased by 1.5 percent year-on-year, exceeding the 1.2 percent growth registered in July. Increasing retail sales are a consequence of higher wages in real terms, improving employment and recovering consumer confidence.

As far as retail sales sectors are concerned, sales at stores of food, beverages and tobacco products and at non-food stores were up by 1.2 percent and 1.3 percent, respectively. Growth regarding sales at fuel stations was even higher at 1.6 percent.

As a result of the Government measures aimed at easing the financial burdens of households, the growth of retail sales and domestic consumption is expected to continue.

(Ministry for National Economy)