Acceleration in Poland's retail sales growth

Poland's retail sales were mainly driven by food, car sales and other sales in non-specialised stores. Based on the sales of these product, Societe Generale anticipates the retail sales growth to have accelerated to 3.1% in June from 1.8% in May, likewise, in monthly term, this is likely to increase by 0.2%. 

Lack of inflationary pressure and growth in real disposable income should support consumer spending in the coming months. 

Due to lowe price, fuel sales are expected to be still negative at - 7.6% yoy, and  retail sales growth, in real terms, should amount to 5.7% yoy, says Societe Generale.