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Explore the latest trends and actionable insights on the Brazil Retail market to inform business strategy and pinpoint opportunities and risks

The Third Consecutive Month of Decline in Brazilian Retail Sales

Industry: Retail
Current: Other Industry Indicators

Brazil's retail sales fell in July from June, government statistics agency IBGE said on September 14, 2022, marking the third consecutive monthly slump
Only the eight activities the agency assessed saw growth, reflecting several gasoline price reductions by state-owned oil company Petrobras
Brazil had been well above those limits before the outbreak, but the bad series of outcomes has brought it very close to them

Brazil's retail sales fell in July from June, government statistics agency IBGE said on September 14, 2022, marking the third consecutive monthly slump. Retail sales volume fell 0.8% from the previous month in August 2022. From July last year, 2021, sales were down 5.2%. Brazil's retail market value increased significantly this year, 2022, compared to the previous year, 2021, according to GlobalData.

Of the eight activities surveyed by the agency, only fuels and lubricants posted growth in the month, mirroring a series of cuts in fuel prices by state-owned oil company Petrobras. The poor sequence of results brings Brazil close to the levels seen before the pandemic, after having been significantly above them.

The current monetary tightening cycle and the high level of household debt in Brazil have weighed on retail sales. The labor market rebound and more short-term fiscal stimulus are predicted to moderate the retail decline by bolstering demand for the more income-sensitive goods.

Explore the latest trends and actionable insights on the Brazil Retail market to inform business strategy and pinpoint opportunities and risks Explore the latest trends and actionable insights on the Brazil Retail market to inform business strategy and pinpoint opportunities and risks Visit Report Store