Loading ...News - Brazil January Supermarket Sales Rise 6.5% On Year - Abras
SAO PAULO -(Dow Jones)- Brazilian supermarket sales rose robustly in January as domestic demand for basic products continued to resist the impact of the global slowdown, the Brazilian Supermarkets Association, or Abras, said Tuesday.
January sales were 6.5% higher, in real terms, compared withJanuary 2008, Abras said. Figures in real terms take into account inflation as measured by the government’s official consumer price index, or IPCA.
In January, the IPCA gained 0.48%, taking 12-month inflation to 5.8%.
According to an Abras release, sales were sustained by the increase in salaries in the first half of last year.
Widespread sales and promotions January also helped sustain sales last month, the association added.
“The impact of the crisis has not yet reached the Brazilian (dining) table,” said the release.
When compared with December, sales subsided 23.0%, which is normal following Christmas.
Brazil’s economy showed clear signs of slowing in the fourth quarter, but demand from food products continues strong.
Brazil’s largest grocers are Cia. Brasiliera de Distribuicao (CBD), or CBD; France’s Carrefour SA (12017.FR); and U.S. retailer Wal-Mart Stores Inc. (WMT). French retailer Casino Guichard-Perrachon SA (12558.FR) owns a 34.3% stake in CBD.
Source: CNN.
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