In the first three quarters of this year, inflation affected Austrian retail sales growth. Although the industry posted more sales in nominal terms, none of it remained after adjusting for price, according to a preliminary analysis by Statistics Austria. Compared to the same period last year, retail sales, excluding car sales but including gas stations, generated 7.8 percent more sales, corresponding to a 0.7 percent decline in real terms.
Sales of food, beverages and tobacco products were nominally 4.2 percent higher than in the same period of the previous year; taking into account price developments, turnover decreased by 2.9 percent. Compared to the first nine months of 2021, trade in non-food items has grown by 7.7 percent this year, resulting in an increase in sales volume of 1.5 percent.
In September remained a small plus
A slightly different picture emerges if you only look at retail sales in September 2022. In September of this year, retail sales grew by twelve percent compared to the previous year, in real terms an increase of 1.6 percent remained. Food, beverage and tobacco retail sales generated 14.6 percent year-over-year sales growth in September. This represented an increase of 3.8 percent for the sales volume. Trade in non-food items increased both nominally (8.8 percent) and price-adjusted (1.5 percent) in September.
Source: Krone
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
