Retail with record sales in 2022 thanks to price increases

Germany’s retailers achieved record sales last year thanks to price increases. Nominally, the revenues were 8.2 percent above the previous record year 2021, as the Federal Statistical Office announced on Friday based on an estimate based on the data up to and including November 2022. In real terms, i.e. adjusted for price increases, sales in the industry were 0.3 percent lower than a year earlier.

Sharp increases in energy and food prices have been weighing on private consumption for months. The Christmas business that started in November brought a bit of a boost: According to preliminary results, retail companies in Germany generated 1.1 percent more calendar and seasonally adjusted and nominal 1.3 percent more than in October 2022 in that month. Compared to the same month last year, sales fell in the November rose by 5.9 percent in real terms, but rose by 4.8 percent in nominal terms. The Wiesbaden statisticians explain the difference between these two values ​​with high price increases. (dpa)