North Macedonia’s retail sales dropped by a real 2.6% year-on-year in June, reversing a 1.7% y/y growth a month before (chart), statistics office data indicated on July 31.
Retail sales (except motor vehicles and motorcycles) were negative in real terms, even though the growth in nominal terms was even higher from the previous month, 19.3% vs 17.9% in May.
This was due to the accelerated inflation, which speeded up by 2.6 percentage points (pp) from the previous month to 14.5% in June. Last year, the biggest annual increase of retail sales was recorded in April, of 23%, following the lockdown in the same month of 2020.
Retail trade in food, beverages and tobacco fell by a real 4.7% y/y in June, but rose by nominal 12.2%.
Non-food sales (except fuel) went down by 2.7% in real terms, and increased by 2.8% in nominal terms.
Retail trade (except fuel) rose by 7.4% y/y in nominal terms, but was lower by a real 3.8% y/y.
Retail trade of fuel soared 70.2 % y/y in nominal terms, and was up 6.9% in real terms in May.