* Brazil’s national statistics institute (Ibge) has released the latest retail sales figures, showing a 3.8% monthly increase for January 2023, which marks the highest rise in sales for the month of January since records began. It was also the highest monthly increase for any month since July 2021. The sales figure for this January was up 2.6% from the same month in 2022, and the increase in accumulated sales over the past 12 months was 1.3%. The rise in sales volume for January has broken the downward trend in retail sales over recent months, as October, November, December 2022 had all seen monthly drops. In terms of product categories, the monthly increase in January was mainly driven by fabrics, clothes, & footwear (+27.9%). Seven of the eight categories measured saw a monthly rise in sales. The only category to see a monthly drop was pharmaceutical, medical, orthopaedic items & perfumes (-1.2%).
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