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Brazil Retail July 2022

Brazil: Decline in retail sales softens in July

Retail sales fell 0.8% month on month in seasonally-adjusted terms in July (June: -1.4% mom). Looking at the details of the release, the moderation came on the back of a marked rebound in fuel sales, and other articles for household and personal use sales dropped at a slower pace.

On an annual basis, retail sales plunged 5.2% in July, which was notably below June’s 0.1% fall and marking the worst result since October 2021. Accordingly, the trend pointed down, with the annual average variation of retail sales coming in at minus 1.8%, down from June’s minus 0.9%.

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