La Jornada: Retail trade lost momentum in February

Retail sales, the main indicator of family consumption, slowed in February after rebounding in January.

According to the Monthly Survey on Commercial Companies, prepared by the National Institute of Statistics and Geography (Inegi), income from the supply of goods and services in retail trade decreased 0.9 percent monthly in February, which moderated annual growth to 3.2 percent.

Of the nine subsectors of retail sales, seven fell; The greatest contraction was observed in sales exclusively through the Internet, printed catalogues, television and similar, with a decrease of 5.3 percent monthly, followed by groceries, food, beverages, ice and tobacco, with a decrease of 4.3 percent, and health care items, with a decrease of 3.7 percent in February compared to January.

Income from the supply of goods and services in retail trade showed an annual increase of 3.1 percent with original figures (without adjustment for seasonality). The positive performance of sales through the Internet and through printed catalogues, television and similar, which rose 12.7 percent; those of stationery, leisure and other products for personal use, which increased 13.2 percent, explain part of the advance, while food, groceries, beverages and tobacco fell 6.2 percent annually in February.

“The retail sales data point to a moderate slowdown in private consumption. The persistent weakness in food and groceries stands out, a sign of pressure on purchasing power, especially in lower-income households,” explained Gerónimo Ugarte, chief economist at Valmex.

The Monthly Services Survey, which includes non-financial private services (including transportation, mail and storage), reveals, with seasonally adjusted figures, that total income from this area fell 1.8 percent in real terms in February compared to the previous month, its largest decline since December 2021.

In February 2026, at an annual rate and with seasonally adjusted figures, the aggregate index of real total income from the supply of goods and services decreased 2.9 percent. With original figures, real total revenues contracted 1.6 percent during the first two months of 2026.