Czech retail sales expanded by 7.8% year-on-year and 3.1% month-on-month in November, the country’s statistical office reported on January 11.
The figures, which are preliminary, compare to a 3.9% y/y growth in October, and a 1.6% m/m decline.
The figures were higher than expected, demonstrating that there is still life in the country’s consumption boom. Sales for sale of non-food goods increased by 3.1% y/y, for automotive fuel by 1.5%, and for sale of food by 1.2%.
Motor vehicles (which are not included in the overall figures) grew by 0.1% m/m but fell 0.8% y/y.
The m/m figures are seasonally adjusted, and both sets of figures are in constant prices.
The share of food spending has decreased from 55% two years ago as domestic products have replaced expensive foreign imports.
Inflation was pulled down by lower prices of food and non-alcoholic beverages.
Despite the increase in the headline figure, long-term investments are stagnating at best, with inter-company lending substituting for them.
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