Retail turnover up in May, but only due to price hikes
Retail commerce turnover showed a 5.1% annual increase in May, according to the Hellenic Statistical Authority (ELSTAT), but this was not thanks to an increase in sales; it was the price hikes that took turnover higher.
The May data showed a 4.2% decline in sales volume on an annual basis, as Greeks had to pay more money to buy fewer products, although in May all pandemic-related restrictions were lifted.
In particular, the volume of sales in May, compared to May 2021, fell by 7.6% at supermarkets, by 10% at specialized food stores (butchers, fruit shops, fishmongers, bakeries etc), 17.9% in apparel and 6.8% at gas stations.
