Value in retail trade marked a sizeable annual increase in June while, activity in volume remained more subdued, reflecting the price hikes that accelerated following the war in Ukraine.
According to data released by the Statistical Service of Cyprus (Cystat) the Turnover Value Index of Retail Trade for June 2022 recorded a sharp increase of 20.1% compared to the respective period of last year, whereas the Turnover Volume Index of Retail Trade for the same month increased by an annual 9.3%.
For the period January-June 2022, the value index is estimated to have recorded an increase of 14.4% and the volume index marked an increase of 4.6% compared to the same period of 2021, Cystat added.
By economic activity, computers and telecommunications equipment, curtains, carpets, books, stationery, sporting equipment, toys, flowers, plants, watches, jewellery, etc marked the highest annual increase in value with 32.4% year on year, followed by Retail sale of automotive fuel in specialized stores with 31.3% and food, drinks, tobacco in non- specialised stores with 22.1%. Retail trade excluding automotive fuel rose by an annual 18.8% in June, Cystat added.
In terms of the volume index, computers and telecommunications equipment, curtains, carpets, books, stationery, sporting equipment, toys, flowers, plants, watches, jewellery, etc exhibited the highest annual increase with 20.7% followed by food, drinks, tobacco in non- specialized stores with 14.9% and retail sale in non-specialised stores with 13.6%.
Volume in retail sale of automotive fuel in specialised stores declined by 11% in June year on year despite of its increase in value which amounted to 31%.