*Brazil’s national statistics institute (Ibge) has released the latest figures for retail sales, which showed that the country’s total sales volume in June was down 1.0% from the previous month, but up 4.0% compared to June last year. The accumulated sales volume in the 12 months until June 2024 was up 3.6% from the previous 12-month period. Of the eight product categories measured, four saw monthly decreases in June. The greatest drop was registered in supermarkets, food, drinks, & smoking products (-2.1%). In a press release, the Ibge suggested that consumers might be buying fewer items in supermarkets due to inflation, with rising food prices as one of the main drivers of inflation in recent months.
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LatinNews Daily - 15 August 2024
In brief: Brazil’s retail sales down in monthly terms
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