Food Sales Down after Price Hikes: Daily

By Ben Tavener, Senior Contributing Reporter

RIO DE JANEIRO, BRAZIL – Sales at hypermarkets and supermarkets, including food, drinks and tobacco products, fell 2.1 percent in February year-on-year, the biggest drop the sector has witnessed in nearly ten years, data from the Monthly Retail Survey conducted by the Brazilian Institute of Geography and Statistics, IBGE, have shown. It is also the first drop in sales since March 2009, Valor Econômico reports.

Already in February 2013, sales had dropped a percentage point after a 1.4 percent increase the month before.

The IBGE said a peak in food . . .

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