Household consumption over 7 percent up in May

Consumption figures have been adjusted for price changes and differences in the shopping-day pattern.

Consumers spent more on durable goods and services

In May 2022, consumers spent over 19 percent more on services such as telephone and internet subscriptions, insurances, visits to hairdressers, restaurants and football matches compared to May 2021 (adjusted for price changes). Spending on services accounts for over half of total domestic consumer expenditure.

Consumers spent nearly 7 percent less on durable goods in May year on year. Spending on passenger cars and home furnishing was down in particular. In 2021, shops were allowed to open without any restrictions as of 28 April. This had an upward effect on spending on durable goods in May 2021.

Adjusted for price changes, there was a year-on-year decrease of over 5 percent in the consumption of food, beverages and tobacco. Spending on other goods such as natural gas, motor fuels and personal care was also over 5 percent down. Consumers spent about the same on motor fuels and personal care, but consumption of energy and water was approximately 20 percent down on one year previously. In May 2022, the average temperature was nearly 3 degrees higher than in May 2021.

Around three weeks ago, CBS reported that in May 2022 the volume of sales in retail trade decreased by 5.4 percent relative to May 2021. The volume of sales in the non-food sector decreased by nearly 3 percent and in the food sector by over 6 percent. These figures have also been adjusted for the shopping-day pattern.