Turnover of retail trade in June 2022 still resisted the high inflation, but its growth was only minimal

June´s retail trade growth by 1.5% was the lowest since the beginning of the year. The result was affected mainly by the turnover growth in hyper- and supermarkets. Although in retail sale of fuel, the turnover nominally increased by more than a quarter, but compared to last June, the enormous price growth of fuel by more than 40% caused the drop of turnover in constant prices by 11%.

In June 2022, retail turnover increased by 1.5%, year-on-year. Thus, it maintained positive values continuously for 15 consecutive months. Total turnover growth in constant prices¹⁾ was recorded by five out of nine retail trade components.

The positive balance of the industry was mainly due to the growth of the two most significant retail components – in hyper and supermarkets (in non-specialized stores) by 3.1% and in specialized stores (e.g. shoes, textiles, drugstores) by 4.1%. The result was also supported by more dynamic growth of the less significant components, turnover in food, beverage and tobacco stores increased by 19% and by 31.3% in stores with PC and ICT equipment. The approaching holiday period was also reflected in a slight turnover growth by 0.8% in sale of cultural and recreational goods (e.g. sporting goods and toy stores, bookstores, etc.).

On the contrary, the better balance of the retail trade was prevented by the turnover drop of four components. Although, the constantly increasing fuel prices are associated with higher nominal turnover growth, but after adjusting for extreme price growth, turnover of gas stations in constant prices is lower by 11.3% than a year ago. A decrease was also recorded in mail order and internet sales by 7.3% and in specialized household stores (hobby markets, furniture and consumer electronics stores) by 6.8%.

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Year-on-year development of other components of trade in June 2022

In June 2022, turnover of sale and repair of motor vehicles and motorcycles increased by 1.7% year-on-year, which was mainly influenced by the turnover growth of motor vehicles. The motor vehicle maintenance and the sale of spare parts recorded a year-on-year decrease. In wholesale¹⁾ turnover rose by almost 15%, while almost all of its components increased, except wholesale on a fee or contract basis.

In June, compared to the last year, turnover of food and beverage service activities decreased by 4.4% and turnover of accommodation doubled, but the low comparative base of last year, when these groups were restarting after the second wave of the pandemic, should be taken into account.

Month-on-month development in June 2022 compared to May 2022

Turnover in June 2022 compared to the previous month²⁾ increased in accommodation by 17.3% and in food and beverage service activities by 2.5%. A decrease was recorded in sale and repair of motor vehicles by 3.6%, retail trade by 2.8% and in wholesale by 1.5%.

Overall development for the first half of 2022

In summary, for the six months of 2022, turnover in all components of internal trade rose more dynamically. Both wholesale (by 21.8%) and retail trade (by 10.7%) achieved a double-digit growth. In sale and repair of motor vehicles turnover rose by 6.3%. In the first half of the year, food and beverage service activities, managed to increase their turnover by more than a third (36.1%) year-on-year, and although accommodation providers tripled their turnover, they still did not reach the pre-pandemic values (in the first half of 2019).