Hungary’s volume of retail sales has been rising for 46 months in a row, Deputy State Secretary for Priority Enterprise Relations Zoltán Marczinkó said, commenting on the latest retail data for the month of April released by the Hungarian Central Statistical Office (KSH).

Adjusted for calendar affects, data from April show an increase of 2 percent year-on-year.

The six-year wage agreement concluded last year has had a major impact on retail sales. As the minimum wage and the guaranteed minimum wage (for skilled workers) rose by 15 percent and 25 percent, respectively, this year, average net wages also increased by 8.2 percent. This, coupled with an inflation rate of some 2 percent, resulted in a higher disposable income at households, he noted.

The volume of sales of non-food items increased at a higher rate than that of foods and fuels, he pointed out. The number of building permits has also increased, he added, by 89 percent year-on-year, and the number of newly built homes was also up by 47 percent this year, compared to the same period last year.

(Ministry for National Economy)