Polish retail sales drop

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Retail sales in Poland fell for the second consecutive month in February, at the fastest rate since 2020, according to Statistics Poland, which reported on Tuesday.

According to the figures, sales in the sector fell by 5% year on year last month, far more than the expected 1.4% drop. Retail sales fell 3.6% month over month in February.

“Retail sales of goods, with calculations based on data from stores with at least 10 employees, decreased by 5% in February. At the same time, the drop in January was 0.3%, according to the report.

Economists attribute the low turnover to ongoing pressure on households’ real disposable incomes and purchasing power as a result of spiraling inflation.

Furniture and household appliance sales fell 10.3% in February, while retail sales of other durable goods fell 12.3%.

Food purchases in Poland fell for the second month in a row in February, falling 4.6% compared to the same period last year. Fuel sales fell by 26.2% year on year, according to the data.

In Poland, inflation has reached its highest level since 1996. According to the most recent Statistics Poland data, consumer prices rose 18.4% year on year in February, up from 16.6% the previous month.