Retail sales in October 2021 accelerated. Consumers spend so as not to lose money due to inflation?

The data published by the CSO on Tuesday indicate an acceleration in retail sales growth. The reason may be that consumers are more willing to spend their savings in real terms.

Retail sales in constant prices, it increased by 6.9% year-on-year in October. – GUS reported on Tuesday. This is a clearly better result than the 6.4% expected by analysts. It means too acceleration compared to the previous month, when sales increased by 5.1% y / y.

As economists commented at the time, the loss of purchasing power associated with accelerating inflation forced consumers, who went shopping after the lockdowns, to cut back on spending. But now it looks like that a large group decided to spend some savings in fear of their further loss of value. Such tendencies were indicated by the GfK Polonia survey published by Rzeczpospolita, in which as many as 62 percent of respondents announced that in the near future they will increase their spending on durable goodssuch as furniture or electronics.

About Eric Wilson

The variety offered by video games never ceases to amaze him. He loves OutRun's drifting as well as the contemplative walks of Dear Esther. Immersing himself in other worlds is an incomparable feeling for him: he understood it by playing for the first time in Shenmue.

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