Retail trade volume fell by 0.5% in the Eurozone and by 0.6% in the European Union The report on retail trade in the Eurozone and the European Union for April 2024 According to the first estimates issued by Eurostat, the statistical office of the European Union, April 2024 saw a decline in adjusted retail trade volume. seasonally increased by 0.5% in the Eurozone and by 0.6% in the EU compared to March 2024.
In March 2024, there was growth in retail trade volume by 0.7% in the Eurozone and by 0.6% in the European Union. When comparing April 2024 with April 2023, the calendar-adjusted retail sales index remained stable in the Eurozone, while it decreased by 0.1% in the European Union.
According to the first estimates from Eurostat, the European Union’s statistical office, April 2024 saw a decline in seasonally adjusted retail trade volume by 0.5% in the euro area and by 0.6% in the EU compared to March 2024. In March 2024, there was growth in Retail trade increased by 0.7% in the Eurozone and by 0.6% in the European Union.
When comparing April 2024 with April 2023, the calendar-adjusted retail sales index remained stable in the Eurozone, while it decreased by 0.1% in the European Union.
Monthly comparison by retail sector and member state: In the euro area in April 2024, compared to March 2024:
• The volume of retail trade increased.
• Food, beverages and tobacco prices decreased by 0.5%.
• Prices of non-food products (excluding motor fuel) decreased by 0.1%.
• The price of automobile fuel in specialized stores decreased by 2.2%.
In the European Union:
• Food, beverages and tobacco prices decreased by 0.9%.
• Prices remained stable for non-food products (except motor fuel).
• The price of automobile fuel in specialized stores decreased by 2.0%.
Member countries for which data are available
Among the Member States for which data are available, the largest monthly declines in total retail trade volume were recorded in Latvia (-3.3%), Cyprus (-3.1%) and Denmark (-2.7%). The highest increases were observed in Slovakia (+2.4%), Bulgaria and Austria (both +1.9%), and Portugal (+1.7%).
Annual comparison by retail sector and member state
In the euro area in April 2024, compared to April 2023, the volume of retail trade increased
• Food, beverages and tobacco prices decreased by 0.5%.
• Prices of non-food products (excluding automobile fuel) increased by 0.4%.
• The price of automobile fuel in specialized stores increased by 0.3%.
In the European Union, the volume of retail trade
• Food, beverages and tobacco prices decreased by 0.1%.
• Prices of non-food products (excluding motor fuel) increased by 0.1%.
• Automotive fuel remained stable in specialized stores.
Among the Member States for which data are available, the largest annual declines in total retail trade volume were recorded in Poland (-7.3%), Belgium (-5.8%) and Estonia (-4.9%). The highest increases were observed in Bulgaria and Romania (both +9.8%), Croatia and Slovakia (both +8.6%), and Luxembourg (+7.3%)
According to the first estimates from Eurostat, the European Union’s statistical office, April 2024 saw seasonally adjusted retail trade volume fall by 0.5% in the euro area and by 0.6% in the EU compared to March 2024.
In March 2024, there was growth in retail trade volume by 0.7% in the Eurozone and by 0.6% in the European Union.
When comparing April 2024 with April 2023, the calendar-adjusted retail sales index remained stable in the Eurozone, while it decreased by 0.1%
Estimates indicate that non-energy industrial goods increased by about 0.9 percent compared to about 1.1 percent during the month of March, while energy prices decreased by about 0.6 percent compared to 1.8 percent during the month of March.
Monthly comparison by retail sector and member state
In the euro area in April 2024, compared to March 2024:
• The volume of retail trade increased.
• Food, beverages and tobacco prices decreased by 0.5%.
• Prices of non-food products (excluding motor fuel) decreased by 0.1%.
• The price of automobile fuel in specialized stores decreased by 2.2%.
In the European Union:
• Food, beverages and tobacco prices decreased by 0.9%.
• Prices remained stable for non-food products (except motor fuel).
• The price of automobile fuel in specialized stores decreased by 2.0%.
Among the Member States for which data are available, the largest monthly declines in total retail trade volume were recorded in Latvia (-3.3%), Cyprus (-3.1%) and Denmark (-2.7%). The highest increases were observed in Slovakia (+2.4%), Bulgaria and Austria (both +1.9%), and Portugal (+1.7%).
Annual Consumer Price Index (inflation rate): The European Statistics Office issued preliminary data for the annual Consumer Price Index (inflation rate) in the Eurozone during the month of May, which was positive and higher than market expectations. According to the data received, annual European inflation within the Eurozone recorded the equivalent of 2.6% for this month, which is higher than expectations that suggested an acceleration of inflation growth in the Eurozone to 2.5%. While the inflation reading for April was about 2.4%.
As for core European inflation, the preliminary reading showed an acceleration in the growth of the annual consumer price index in its core value (measuring the change in the prices of goods and services purchased by consumers, but excluding changes in the prices of food, energy, alcohol, and tobacco), to 2.9% in May, which was higher than expectations. Markets indicated that core inflation in the Eurozone had stabilized at the same level recorded last April, amounting to 2.7%.
