Retail gross sales decelerate and develop 0.3% in September, indicator reveals

Retail sales in September showed deceleration, with growth of 0.3%, discounted inflation, compared to the same period last year, according to the ICVA (Cielo Retail Expanded Index) released this Thursday (13).

Despite the positive growth for 11 consecutive months, the data is the lowest since November 2021, when the ICVA indicated 2.1% expansion.

According to Cielo, calendar effects helped the result because there was one more Friday and one less Wednesday, a date when trade is less heated. Excluding this effect, there was a decrease of 0.2% in the deflated comparison.

In the opinion of Diego Adorno, data products manager at Cielo, one of the reasons for the slowdown is in the gas station sector, which was already losing pace and showed a drop in September compared to the same month in 2021.

“It is a reflection of two factors: the recent reduction in fuel prices and a stronger comparative basis, in September 2021, which came from a process of easing the quarantine,” it said in the statement.

The ICVA is calculated from 1.1 million retailers in the country accredited to the company and distributed across 18 sectors.

(Reuters)