ECONOMY

Retail commerce turnover up nearly 14% in January

Retail commerce turnover up nearly 14% in January

Retail commerce saw turnover increase by 13.9% in January 2022 compared to a year earlier, due to two factors: first that this year shops were open for business for the entire month, against just 15 days in January 2021, and second that prices have increased significantly over those 12 months.

It is no coincidence that sales volume grew at a lower rate – i.e. 8.9% year-on-year.

Supermarket and fuel station data speak more clearly about the impact of prices on turnover growth: Supermarkets saw a 5.3% rise in turnover but only 0.8% in sales volume; fuel stations recorded turnover growth of 42.9% but sales volume rose just 17.4%.