Retail Sales in Brazil Fall Once Again in August

By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – Brazil’s retail sales closed the month of August in negative territory, with a decline of 0.6 percent in volume and -0.5 percent in revenues, compared to July, according to data by the Brazilian Institute of Geography and Statistics (IBGE).

“The worsening of the labor market, the acceleration of prices and the continuing high interest rates ... all those inhibit retail purchases. Everything you can postpone or replace ends up being impacted, "said Isabella Nunes, Services and Trade manager at IBGE.

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