Retail trade turnover rises by almost 7% in Romania on higher food sales

The retail trade turnover in Romania rose by 6.9% in the first nine months of the year. The growth was mainly supported by the increase in the sale of food, beverages and tobacco by over 16%, after the VAT on food was reduced starting June 1. The sale of fuels in specialized stores grew by 5.4% during this period, whereas the sale on non-food goods increased by 0.6%, according to the National Institute of Statistics. In September, the retail trade turnover in Romania fell by 0.6% compared to August. However, the indicator went up by 12% compared to September 2014. Romania’s Central Bank will not be able anymore to follow a rhetoric that is favourable to a monetary easing policy, given that the domestic demand showed a very strong growth, ING Bank analysts said, reports Profit.ro. Food sales posted an annual growth rate of over 27% in September compared to the same month of last year, according to the analysts. editor@romania-insider.com