Food consumption increased by 22 pc in June following VAT cut

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Last June compared to the same month of the previous year, the retail turnover volume (excluding the trade with motor vehicles and motorcycles), gross series, registered an increase of 7.9 percent due to the increments registered by the sale of food, beverages and tobacco (+22 percent), by the retail of automotive fuel in specialised stores (+1.3 percent) and by the sale of nonfood products (+1 percent), National Institute of Statistics (INS) data show on Tuesday.

The increased sales of food, beverages and tobacco in June comes in the context in which this was the first month in which the reduced VAT from 24 percent to 9 percent on food and non-alcoholic beverages was applied.

As against the previous month, in June 2015 the retail turnover volume (excluding the trade with motor vehicles and motor cycles), gross series, globally increased by 4.2 percent due to the increments registered by the sale of food, beverages and tobacco (+11.7 percent) and by the sale of non?food products (+1.5 percent).

 

Retail turnover volume, up by almost 5 pc in H1 yoy

The same INS data reveal that in H1 yoy, the retail turnover volume (excluding the trade with motor vehicles and motorcycles), increased both as gross series and as adjusted series according to the number of working days and to seasonality by 4.8 percent and by 4.9 percent, respectively.

Compared to last year’s June, this June the retail turnover volume (excluding the trade with motor vehicles and motorcycles), adjusted series according to the number of working days and to seasonality, registered an increase of 7.1 percent due to the increments registered by the sale of food, beverages and tobacco (+21.5 percent), by the retail of automotive fuel in specialised stores (+1.4 percent) and by the sale of non?food products (+0.9 percent).

The retail of automotive fuel in specialised stores decreased by 1.8 percent. As against the previous month, in June 2015 the retail turnover volume (excluding the trade with motor vehicles and motor cycles), adjusted series according to the number of working days and to seasonality, globally increased by 1.7 percent due to the increments registered by the sale of food, beverages and tobacco (+12.7 percent) and by the sale of nonfood products (+0.4 percent). The retail of automotive fuel in specialised stores decreased by 4.6 percent.

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