Brazilian retail sales grew 2.8% in August compared to a year earlier, discounted for inflation, according to an index calculated by the means of payment company Cielo and released this Tuesday (13).
This was the tenth month in a row that the Cielo Expanded Retail Index (ICVA) is positive, which has not occurred since December 2019, Diego Adorno, Cielo’s Data Products manager, said in the statement.
He highlighted that segments such as gas stations; tourism and transport; and bars and restaurants have been boosting the index’s performance.
“In the case of gas stations, it is possible to associate the acceleration of sales growth, already discounting inflation, to the recent price drop”, he said.
Cielo also stated that calendar effects helped performance in August, with one more Wednesday, when sales tend to be more intense, and one less Sunday, when commerce normally has a weaker performance.
The ICVA is calculated from 1.1 million retailers in the country accredited to the company and distributed across 18 sectors.
Source: CNN Brasil
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