Monthly and volume retail sales data shrink in May, reflecting cost-of-living crisis

EconomyMacroeconomy Tags: ELSTAT, Retail
Photo by Panayotis Tzamaros/Fosphotos
Photo by Panayotis Tzamaros/Fosphotos

The growth in Greece’s retail sales experienced a significant slowdown in May, rising by 5.1 percent year-on-year (YoY) from a solid 18.8 percent in April, Hellenic Statistical Authority (ELSTAT) data showed on Friday.

Greece’s second lockdown was introduced in November 2020 and ran into 2021, so the annual growth captures the base effect and a much-subdued retail season, even during the annual sales and leading up to Easter last year.

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