For non-food items, stores spent 7.7 percent of the total and for food by 3 percent of the total. Revenues for fuel increased by 6.7 percent. Sales grew in all main groups of stores with non-food and food assortments, said Jana Gotvaldov, head of the trade, transport and services statistics department.
Sales in specialized stores with cosmetic and toiletry products increased by 27.4 percent, with pharmaceutical and healthcare products by 6.3 percent, with clothing and footwear by 5.2 percent, with household products by 3.1 percent, with products for culture, sports and recreation by 2.7 percent, and for travel and communications by 0.1 percent.
Analysts reported positive values and a growth trend expected in the following months as well. Inflation has been in the vicinity of the NB inflation target for the entire year, households are starting to prefer consumption over disputes, and the precautionary effect is gradually disappearing. In addition, the NB will probably continue under loose monetary conditions, which will increase consumption preferences accordingly, comments Filip Pastucha, an economist at Deloitte.
There was also an internet store
Revenues for the sale and repair of motor vehicles shrank by 4.8 percent in the second half of the year. In the meantime, they fell by 0.4 percent. Sales in stores with clothing and communication equipment increased only slightly. Internet and brick-and-mortar stores did well, sales rose by 14.9 percent.
Beznov data did not confirm the assumption that household consumption will grow in the coming months and contribute to the growth of the domestic economy. This is also indicated by consumer spending, which rose above its long-term average in April. At the same time, the labor market has become tighter, thanks to falling inflation and the development of nominal wages, the real disposable income of households is also growing. We are also observing an increase in consumer confidence, according to analyst Jana Steckerov from Komern banka.
Compared to the norm, shops in the Czech Republic spent 1.8 percent more on non-food items and half a percent more on food. Sales of fuel increased by 1.9 percent.
Economist Jakub Seilder notes that Easter also had a positive effect on the results. It is necessary to look for stronger values for the run in the context of the Easter holidays, which affected the run this year, and statistical methods etc. cannot always accurately verify them. The values of the last few months are so fluctuating due to calendar influences, concluded the chief economist of the Czech Bank Association.
