Monthly Survey of Trade
Retail sales change 0.4% in January
March 11, 2026 09h00 AM | Last Updated: March 12, 2026 02h35 PM
In January 2026, the volume of retail sales in the country changed by 0.4% compared to December 2025 (-0.4%). As a result, the evolution of the quarterly moving average index for retail was 0.3% in the quarter ending in January 2026. The data comes from the Monthly Survey of Trade (PMC), released today (11) by the IBGE.
According to Cristiano Santos, manager of the PMC, the January result is the highest point in the seasonally adjusted series. “Despite the low change, even interpreted more as stability from December to January, the positive rate makes January reach the highest point in the series, equaling, in volume, November 2025. It is worth recalling that peak renewals are not so common. Before these two (November 2025 and January 2026), it had been in March 2025.”
The results recorded by pharmaceutical activities, which include personal hygiene and cosmetics, help to understand the evolution of the indicator. “This performance, with change close to stability and a high level in the medium and long term, is driven by the pharmaceutical activity, which, with the exception of December, has shown constant growth in the margin series since July 2025, registering in January the largest change (2.6%) among the eight activities surveyed,” explains Mr. Santos.
January saw four increases among the eight retail activities
From December 2025 to January 2026, in the seasonally adjusted series, four of the eight retail trade activities showed positive rates in sales volume: Pharmaceutical, medical, orthopedic and perfumery articles (2.6%), Textiles, wearing apparel and footwear (1.8%), Other personal and household articles (1.3%), and Hypermarkets, supermarkets, food products, beverages and tobacco (0.4%).
Furniture and household appliances had zero change (0.0%), and three activities showed negative results: Equipment and materials for office, IT and communication (-9.3%), Books, newspapers, magazines and stationery (-1.8%), and Fuels and lubricants (-1.3%).
Regarding the negative results, Mr. Santos points out that January was a month of decline for the electronics sector. “After strong growth in the previous three months, January saw a 9.3% drop. This sector is especially affected by dollar fluctuations, and during periods of high volatility, companies take advantage of periods when the real appreciates to replenish their stocks before deciding the best time to run promotions. Furthermore, the sector is coming off a stronger Black Friday and Christmas sales season.”
Extended retail sales grow 0.9% compared to December
Also comparing to December 2025, in the seasonally adjusted series, extended retail sales grew 0.9%, the tenth consecutive positive rate. In this segment, both activities showed positive growth: Motor vehicles, motorcycles, parts and accessories grew 2.8%, and Construction Materials increased by 3.4%. Before January 2025, sales grew in six of the eight activities.
Compared to the same month last year, the volume of sales of retail trade grew by 2.8%, with increases in six of the eight activities surveyed: Furniture and household appliances (6.1%), Office, Computer and communication equipment and materials (5.6%), Pharmaceutical, medical, orthopedic and perfumery articles (5.1%), Hypermarkets and supermarkets, food products, beverages and tobacco (2.9%), Other personal and household articles (2.5%) and Textiles, wearing apparel and footwear (0.8%).
In the extended retail trade, Motor vehicles, motorcycles, parts and accessories fell by 3.3% compared to January 2025, Construction materials fell by 2.3% and Wholesale of food products, beverages and tobacco registered an increase of 2.0%.
Compared to January 2025, retail sales showed positive rates in 26 of the 27 Federation Units
Compared to January 2025, the indicator showed a change of 2.8%, with positive results in 26 of the 27 Federation Units, notably Pernambuco (11.4%), Rondônia (11.2%), and the Federal District (6.9%). On the other hand, one of the 27 Federation Units showed a negative result: Piauí (-0.6%).
In the extended retail trade, compared to January 2025, there was a predominance of positive rates in 21 of the 27 Federation Units, notably Mato Grosso (9.1%), Tocantins (9.0%), and Rondônia (8.1%). On the other hand, six of the 27 Federation Units showed negative pressure, notably Piauí (-2.5%), São Paulo (-1.9%), and Rio Grande do Sul (-1.9%).
More about the survey
The Monthly Survey of Trade (PMC) monitors the current behavior of retail trade in the country, investigating the gross sale revenue of formally constituted companies with 20 or more employees whose main activity is retail trade. Started in 1995, the PMC provides monthly results on the change in volume and nominal sales revenue for retail trade and extended retail trade (cars and construction materials) for Brazil and its Federation Units. The results can be consulted on Sidra. The next PMC release, referring to February 2026, will be on April 15, 2026.
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