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Retail Sales in the Euro Zone Stronger than Expected but Inflation Continues Rising

Eurostat announced today that retail sales in the eurozone exceeded expectations in November. The key factor here was purchases in the non-food sector. This shows that consumer demand remains strong. Although restrictions have been enforced in connection with the pandemic.

The European Union Statistics Office reported that retail sales, which represent consumer demand in 19 countries that share the euro, increased 1% in value this month. Year on year, retail sales rose 7.8%, above the forecast of 5.6%.

Non-food sales increased 1.6% from the previous month, while motor vehicle oil sales decreased 1.5%.

Among the larger countries in this group, Spain and France performed above average. Germany, on the other hand, is the driving force behind retail expansion.

CPI figures in the eurozone continue to rise. The CPI for the month of December showed an increase of 5% YoY. In November, the increase was still at 4.9%.

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