Sales Of Shoes And Clothing Retail In Brazil Showed A Slight Decrease.

Brazil credit rating agency Serasa Experian released the latest data show that Brazil's retail sales in 2015 fell by 1.3% compared with 2014, a record low of 4.9% in 2002.

Data show that in 2015

Retail sales of motor vehicles and motorcycle spare parts were the worst, with retail sales decreasing by 19% compared with 2014.

And retail sales of shoes dropped by 3.5%; third of building materials.

The amount dropped by 2.1%.

In addition, fuel and lubricants retail sales fell by 1%, electronic and computer equipment retail sales fell by 0.9%, while restaurant sales in large supermarkets also fell by 1.1%.

On the 8 day, the Brazil Bureau of geographical Statistics announced that Brazil's inflation rate reached 10.67% in 2015, two times the government inflation management target of 4.5%, while the expected inflation rate in the financial market was as high as 10.72%.

To curb inflation, Brazil's central bank raised its benchmark interest rate to 14.25% in July 29, 2015, a record high in 9 years.

Financial markets predict that Brazil's central bank will raise interest rates by 50 basis points again this month, raising the benchmark interest rate to 14.75%, and will increase to 15.25% by the end of 2016, given the heavy inflation pressure in Brazil.

Since 2011, Brazil's economic growth has slowed down significantly, but has not suppressed consumer enthusiasm.

Data show that in 2012, 2013 and 2014, Brazil's retail sales increased by 6.4%, 5.2% and 3.7% respectively.

In the 2008 and 2009 when the global financial crisis broke out, Brazil's retail sales also increased by 13.2% and 6.1% respectively.

According to analysts, the retail sales in Brazil for the first time in 13 years showed negative growth for the first time in over a period of 2015, mainly due to the sluggish economy and high unemployment rate in Brazil, resulting in sharp decline in public incomes, high inflation, high interest rates on banks and a decline in consumer confidence.