ARGENTINA · CONSUMER SPENDING
Key Facts
- —What is happening Argentine supermarket sales fell 3.7% in August from a year earlier after adjusting for prices, the eighth straight yearly decline. Sales were also 0.8% lower than in July.
- —Why it matters Sales in current pesos rose 24.2%, but price rises left the volume of goods sold lower, a sign that household demand is still weak.
- —The numbers Supermarkets took ARS 2.62 trillion (about US$1.71 billion) in August, wholesalers ARS 395 billion (about US$259 million, down 3.6%) and shopping centres rose 3.7%.
- —Who is who INDEC, the national statistics office led by Pedro Lines, runs the monthly survey of large supermarkets, wholesale self-service stores and shopping centres.
- —What to watch The September survey, for which no release date was confirmed, and whether shopping centres, the only channel growing in volume, keep rising.
- —Power Index Argentina ranks 4th of 14 in The Rio Times Latin America Power Index, with 61.2 points (October 2026 edition).
- —What it means for you For US investors and exporters, volumes in Argentina’s food retail are still shrinking, so demand for imported consumer goods and local retail shares stays soft.
Argentina’s supermarket sales fell 3.7% in August from a year earlier in constant pesos. Shopping centres grew 3.7%, the statistics office INDEC said on Thursday, 22 October.
Argentina’s supermarket sales fell 3.7% in August from a year earlier in constant pesos, INDEC said on Thursday, 22 October. It was the eighth straight yearly decline, and a sign that Argentina shoppers are still buying less.
Sales in current pesos rose 24.2% to ARS 2.62 trillion (about US$1.71 billion), but price rises erased that gain and more. Conversions use the exchange rate of 23 October 2026, ARS 1,527.85 per US dollar.
What the August Survey Shows
INDEC measures sales at large supermarket chains in constant pesos, which strips out price changes. On that basis, August was 3.7% below August 2025 and 0.8% below July, after seasonal adjustment.
The smoother trend-cycle series fell 0.3% in the month. Over January to August, supermarket sales are 2.8% lower than a year earlier.
July had been a smaller drop of 2.1% from a year earlier, with a monthly fall of 0.7%. INDEC published that figure on Wednesday, 23 September, so August is the weaker of the two readings.
In current pesos, supermarkets took ARS 2,616,930.1 million (about US$1.71 billion) in August, up 24.2%. In July the nominal total was ARS 2,591,042.4 million (about US$1.70 billion), up 25.8%.
Wholesalers Fall While Shopping Centres Grow
Wholesale self-service stores fell 3.6% in volume from a year earlier. They also fell 1.2% from July, and their cumulative drop since January is 2.9%.
That was the seventh straight yearly decline for wholesalers. Their current-peso sales were ARS 395,434.5 million (about US$259 million), up 23.7%.
Shopping centres were the only one of the three channels to grow in volume. Their sales rose 3.7% year on year and 3.3% from July, though January to August is still 1.2% below last year.
Shopping centres took ARS 698,563 million (about US$457 million) in current pesos, up 24.3%. Patagonia led the regions with a rise of 32.2%, while Greater Buenos Aires grew 20.4%.
What Shoppers Bought and How They Paid
In supermarkets, meat posted the largest rise in current-peso sales at 38.5%. Fruit and vegetables followed at 32.6%, cleaning and perfumery at 25.6%, and prepared foods at 25.1%.
At wholesalers, fruit and vegetables rose 35.5%, dairy 30.2%, groceries 29.8% and meat 29.1%. These are price-inclusive figures, so they do not show how much more food was actually sold.
The average supermarket ticket was ARS 35,569 (about US$23.28), up 15.8% from a year earlier. At wholesalers the average ticket was ARS 47,067 (about US$30.81), up 29%.
Credit cards accounted for 43% of supermarket sales, debit cards for 23.9%, cash for 17% and other methods for 16.1%. Transfers and QR payments made up 32.7% of wholesale sales.
Why Peso Sales Rose While Volumes Fell
INDEC reports two views of the same sales. Current-peso figures include inflation, while constant-peso figures remove it and show whether shops sold more or less.
The 24.2% rise in current pesos and the 3.7% fall in constant pesos mean prices rose faster than volumes. Argentina has had high inflation for years, and food is a large share of household spending.
Earlier Rio Times reports cover September inflation and weekly food prices. Others look at wholesale inflation and a pay survey.
What It Means for US Readers
For US investors, the survey is a monthly read on Argentine household demand. Eight straight yearly falls in supermarket volumes suggest that food retailers face weak sales, even though their peso revenue is rising.
US exporters of packaged food and consumer goods should note that shoppers are buying less, not just paying more. The data checked do not show how much of the fall comes from imported goods.
The figures checked name no listed company, so they say nothing directly about any Argentine retail share or ADR. The survey covers large chains only, not small shops or street markets.
What Is Not Known
INDEC’s figures cover large supermarket chains, wholesale self-service stores and shopping centres, not all Argentine retail. The survey does not show spending at small neighbourhood shops or online-only sellers.
No consensus forecast for August could be confirmed at a primary source. This report therefore does not say whether the 3.7% fall beat expectations.
The reasons for the weaker volumes, such as wages, credit or tourism, are not stated in the coverage checked. The figures checked do not split sales between imported and local goods.
What Comes Next
INDEC will publish the September survey in its usual monthly cycle, and a release date was not confirmed for this report. That reading will show whether supermarket volumes fall for a ninth straight year-on-year month.
A rise in shopping-centre sales does not mean that overall consumption is recovering. One month of growth in one channel is not a trend.
Frequently Asked Questions
How much did Argentine supermarket sales fall in August?
Supermarket sales fell 3.7% from August 2025 in constant pesos, INDEC said. They were 0.8% lower than in July after seasonal adjustment.
Did any retail channel grow in August?
Yes, shopping centres grew 3.7% from a year earlier and 3.3% from July. Wholesalers fell 3.6% and supermarkets fell 3.7%.
Why did supermarket sales rise 24.2% and fall 3.7% at once?
The 24.2% rise is in current pesos and includes price increases. The 3.7% fall is in constant pesos, which remove inflation and measure volume.
How big were Argentine supermarket sales in August?
Supermarkets took ARS 2,616,930.1 million in current pesos, about US$1.71 billion at ARS 1,527.85 per dollar. Wholesalers took ARS 395,434.5 million, about US$259 million.
Who publishes these figures?
INDEC, Argentina’s national statistics office, publishes the monthly survey of supermarkets, wholesale self-service stores and shopping centres. The August release came out on Thursday, 22 October 2026.
Sources: INDEC, Argentina’s national statistics office; Elonce; Cadena 3; La Nación; C5N; Perfil (July data); exchange rate from open.er-api.com, 23 October 2026 (all accessed 23 October 2026).
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief
In depth