Despite the 15.1% increase in prices, store sales in Romania climbed by only 5.2% in the first half of the year compared to the same period in 2021.
According to the Romanian National Institute of Statistics, the retail trade turnover increased in June by 3.2% compared to June 2021. The most significant increases were recorded in fuel trade (7.4%), sales of food products, beverages and tobacco (+2.3%) and sales of non-food products (+1.9%).
So, are the stores’ sales in Romania increasing, despite the price increase? Not exactly. Although there was some increase of approximately 5%, Romania is in a period of rising inflation, so any so-called increase in this period cannot be considered a profit. The National Bank of Romania has warned about how the rise in inflation can affect the country’s economy, which can be seen especially in the trade segment.
The data show that compared to May 2022, the volume of retail trade turnover (excluding the sale of automobiles and motorcycles) declined by 1.4% in the gross series and by 2.1% in the series adjusted for seasonality and the number of working days.
In June 2022, the volume of retail trade turnover (excluding the sale of motor cars and motorcycles) increased both as a gross series and as a series adjusted according to the number of working days and seasonality by 3.2% and 4.2%, respectively, from June 2021.
The volume of turnover in retail commerce (excluding the sale of automobiles and motorcycles) increased between January 1 and June 30, 2022, as measured by both a gross series that increased by 5.2% and a series that was adjusted for the number of working days and seasonality by 6.6 percent.
Compared to the same month the previous year, food, beverages, and tobacco sales were up (+2.3%), as were those of non-food items (+1.9%). Retail sales of motor fuels in specialist stores also registered a rise (+7.4%).
The increase from the first semester is the result of improvements in sales of non-food items (+5.4%), food, beverages, and tobacco (+4.9%), as well as motor fuels at specialist stores (+9.0%).
However, the retail turnover growth is below the annual rate of inflation announced by the National Institute of Statistics.