Supermarket Sales Growth Starting To Slow

The Argentine national statistics agency Indec has reported that supermarket sales in February reached ARG3.82bn, representing year-on-year (y-o-y) growth of 22.5% and month-on-month growth of 4.5%. However, the same organisation has reported y-o-y inflation stood and 6.8%, which is much lower than many independent observers believe the true inflation rate to be. Understating inflation would artificially boost the reported supermarket sales figures and with BMI estimating that the actual rate of consumer inflation came in at 22% in 2008, (see chart) these figures suggest that supermarket sales in Argentina are showing the first signs of

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