Retail sales of SME businesses in the province of Córdoba during the month of May ended with a drop of 17.1% compared to the same month in 2023.
The registry belongs to the data collected by the Commercial Federation of Córdoba (Fedecom), and its affiliated Chambers and Shopping Centers.
Already in May 2023, sales decreased by 4.8% compared to the same month in 2022.
“The caution and caution on the part of families in relation to expenses is very evident. Furthermore, concern about rising taxes and the loss of purchasing power is holding back mass consumption,” said Fausto Brandolin, president of Fedecom.
In turn, he pointed out that changes are observed in consumer behavior, search for offers and discounts; choices of second and third brands. “All mechanisms that families deploy to ensure coverage of basic needs,” she explained.
The items surveyed
Of the 11 items surveyed by the entity, in the year-on-year comparison with respect to the quantities sold, only one showed a positive result, pharmacy with 1.2%. In the rest, almost entirely, there were double-digit drops.
- Food and beverages recorded a drop of 20.2%.
- Sports and recreation items suffered a drop of 8.6%.
- Footwear and leather goods registered a drop of 18.1%.
- Appliances and electronic items with a sales drop of 21.3%.
- Hardware, electrical materials and construction materials with -14.4%.
- Clothing suffered a drop of 22.8%.
- Toy stores and bookstores with -14.2%.
- Furniture and decoration, a drop of 15.7%.
- Tires and spare parts with -10.6%.
- Perfumery and cosmetics with a drop of 16.3%.
Regarding payment methods, 55% of transactions were made with credit card, and 45% in cash.
For grocers, inflation fell
For the Department of Statistics and Trends of the Center of Storekeepers and Retail Merchants of the Province of Córdoba, inflation in May showed a “strong deceleration” and reached 4.8% in its record.
The prices, according to the merchants’ survey, “showed a clear downward trend”, returning to an inflationary level below 5% (which had not happened since the first months of 2022).
The April measurement was already 9.3%; that of March, 10.4%; that of February, 14.8%; that of January, 23.7%; and that of December, 30.4%. These are the six price records under the government of Javier Milei.
The May data caused the accumulated inflation so far in 2024 to reach 79.6% and the year-on-year rate (last 12 months) to 332%.
What also went down was the projected Inflation for all of 2024, which now stands at 160% (in April it had been 211%).
