Domestic consumption plummeted again in March in year-on-year terms, according to data published by INDEC this Thursday. While Supermarket sales fell 9.3% compared to the same month last year, turnover in wholesale self-services contracted 10.7%.
At current prices, Supermarket sales increased by 279.8% compared to March 2023, against general inflation of almost 290% in the same period.
Regarding the means of payment, a strong real contraction in the use of cash, in contrast to an increase in the use of other means of payment, virtual wallets and credit cards fundamentally. Likewise, there was a drop in both online sales and those made in the “living room.”
At the item level, the most pronounced real collapses were observed in electronics and textile products. At the other extreme, the largest increases were in bakery and cleaning supplies.
The provinces hardest hit by the drop in consumption were Formosa, Santiago del Estero and Tucumán. In parallel, the districts that showed real increases were CABA, PBA, Córdoba, Santa Fe and Neuquén.
Meanwhile, wholesale self-service turnover rose only 197.2% year-on-year. In this case there was also a sharp decline in cash, while credit cards gained weight.
Based on these data, in the first quarter, consumption in supermarkets and wholesalers accumulated a decrease of 8.5% and 11.5%, respectively.
Along the same lines, billing in shopping malls It plummeted 11.5% year-on-year in March and 17.5% in the first three months of 2024, reflecting that leisure expenses are among the most cut in times of crisis.
Source: Ambito
