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Commerce: High prices are holding back retail sales

2022-08-03T12:24:23.019Z


Istat, June sales -1.1% month, + 1.4% year on year (ANSA) High prices bring down the retail sales index in June. Istat estimates an economic downturn for retail sales -1.1% in value and -1.8% in volume. On an annual basis, sales increased in June by 1.4% in value but decreased by 3.8% in volume compared to June 2021. In the quarter April June there was a growth in value of 1.1% and a decrease in volume of 0.3% compared to the previous quarter.  In June,


High prices bring down the retail sales index in June.

Istat estimates an economic downturn for retail sales -1.1% in value and -1.8% in volume.

On an annual basis, sales increased in June by 1.4% in value but decreased by 3.8% in volume compared to June 2021. In the quarter April June there was a growth in value of 1.1% and a decrease in volume of 0.3% compared to the previous quarter. 

In June, sales of non-food goods decreased compared to May both in value (-2.2%) and in volume (-2.5%), while for food goods there was an increase in value (+ 0.4% )

and a decrease in volume (-0.8%).

In the second quarter of 2022, in quarterly terms, retail sales grew in value (+ 1.1%) and fell slightly in volume (-0.3%).

Sales of non-food goods are increasing (+ 0.8% in value and + 0.2% in volume), while those of food goods increase in value (+ 1.5%) and decrease in volume (-0, 8%).

On a trend basis, in June sales of non-food goods decreased (-0.8% in value and -3.3% in volume) while those of food goods recorded an increase in value (+ 4.5%) and a decrease in volume (-4.4%).

As regards non-food goods, there are heterogeneous trend variations for the product groups.

The biggest increases concern Perfumery products, personal care (+ 3.2%) and Pharmaceutical products (+ 2.5%),

while the most marked downturns are seen for Household appliances, radio, TV and recorders (-8.3%) and Equipment for information technology, telecommunications, telephony (-7.5%) after the increases recorded in the period of the pandemic.

Compared to June 2021, the value of retail sales grows for large-scale distribution (+ 4.6%) and decreases for companies operating on small surfaces (-0.9%).

Sales outside the shops increased slightly (+ 0.1%) while there was a decline for e-commerce (-6.8%).

"The second quarter of 2022 - comments Istat - ends with an acceleration in the economic growth of retail sales, largely attributable to the increase in prices. In fact, volumes are down both in the first and in the second quarter. of this year.

in June, the value of sales grew, driven by large retailers, and in particular by food;

even in this case, however, the volumes, as a whole, are decreasing ".

In June, retail sales by volume "fell sharply, caused by high prices and skyrocketing inflation".

This was stated by Codacons, commenting on the data provided today by Istat according to which in the month sales in volume fell by 1.8% on May and 3.8% on June 2021. "On a monthly basis, sales decrease both in value and in volume, with a peak of -2.5% for non-food goods - says the president Carlo Rienzi - On an annual basis, the volume of food sales even recorded a drop of 4.4% (despite the +4, 5% of sales in value, ed.) Numbers affected by the current price emergency in Italy, which on the one hand reduces purchases by households, on the other determines an increase in spending: in essence today Italians spend more to buy less ".

"The Government - he underlines - must intervene urgently by ordering the cut of the

For Confesercenti and Confcommercio there is the risk of a black autumn on consumption


Source: ansa

All life articles on 2022-08-03

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