Wholesale sales also grew 0.44% at a monthly rate, according to what was published today by the National Institute of Statistics and Geography (Inegi).
The sustained increase in retail sales in recent months could suggest further inflation pressures, but there is good news. According to an analysis by Grupo Monex, the increases were concentrated in the automotive sector, with a monthly increase of 2.3%, and in that of household goods (1.1%), “whose sales had been paralyzed due to disruptions in global value chains.” .
Furniture and car sales had fallen sharply in three of the last four months, due to global shortages of chips and other inputs, putting strong pressure on prices.
However, Monex indicated that caution must be exercised regarding the interpretation of the data and hope that the dynamics will be repeated in November. Although retail sales maintain an upward trend, it is expected that in 2023 there will be a notable slowdown in the items that currently drive the general index.