Economy
0:38 24 November 2021
Post by: WBJ

Retail sales keep on accelerating

Retail sales keep on accelerating
Source: Photo by Nathália Rosa on Unsplash

The data published by the GUS on Tuesday indicate an acceleration in retail sales growth. Retail sales growth in constant prices accelerated to 6.9 percent in October. This may mean that consumers have decided to flee their purchases from accelerating inflation, but some economists point out that the increase in sales is rather the result of a base effect.

As a result of the increase in prices, retail sales in nominal terms are growing at a double-digit rate. At the same time, despite the return of the pandemic, Poles do not give up shopping in stationery stores.

The data published by the GUS also showed an acceleration compared to the previous month, when sales increased by 5.1 percent y/y. As economists commented at the time, the loss of purchasing power associated with accelerating inflation forced consumers, who went shopping after the lockdowns, to cut back on spending.

(Business Insider

poland
retail sales
gus

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