In January 2026, the volume of retail sales grew 0.4% compared to December 2025, in the seasonally adjusted series, and the quarterly moving average was 0.3%.

Compared to January 2025, retail sales volume grew by 2.8%. The cumulative growth over the last 12 months was 1.6%.

In the extended retail sector, which includes vehicles, motorcycles, parts and accessories, construction materials, and wholesale specialized in food products, beverages, and tobacco, sales volume grew 0.9% in January. The moving average was 0.2%. Compared to the same period in 2025, there was a positive change (1.1%). The cumulative total for the last 12 months showed zero change (0.0%).

Between December 2025 and January 2026, in the seasonally adjusted series, retail trade showed positive rates in four of the eight activities surveyed: Pharmaceutical, medical, orthopedic and perfumery articles (2.6%), Textiles, apparel and footwear (1.8%), Other personal and household articles (1.3%) and Hypermarkets, supermarkets, food products, beverages and tobacco (0.4%). With negative rates are activities: Office, computer and communication equipment and materials (-9.3%), Books, newspapers, magazines and stationery (-1.8%) and Fuels and lubricants (-1.3%). The Furniture and household appliances activity had zero change (0.0%). In the same comparison, the extended retail trade showed two positive results: Vehicles and motorcycles, parts and pieces (2.8%) and Construction materials (3.4%).

Six of the eight activities showed positive results compared to January 2025

The Furniture and Household Appliances sector showed a 6.1% increase in sales compared to January 2025, following a 7.4% growth in December. Since July 2025, the sector has registered months of growth, with the last month showing a negative rate being June 2025 (-0.4%). The year-on-year change made this activity the third largest positive influence, adding 0.4 percentage points to the total of 2.8% for retail. In the indicator comparing the last twelve months, the sector also shows uninterrupted gains over the last thirty-one months, reaching 4.7% in January 2026.

The Office, computer and communication equipment and materials sector, in the year-on-year comparison, showed an increase of 5.6% compared to January 2025, the fifth consecutive positive result: since September the activity has not shown a decline, as it registered -0.7% in August. The sector has been influenced by the strong devaluation of the dollar, since some of the products offered by stores are imported (such as cell phones, televisions and computers). In terms of the cumulative growth over the last twelve months, going from 1.1% until November 2025 to 4.1% in December and 4.4% in January, the sector registered an increase in the intensity of growth.

The Pharmaceutical, medical, orthopedic, and perfumery sector showed growth of 5.1% compared to the same month of the previous year, marking the thirty-fifth positive result in the year-on-year indicator (the last month with a negative result was February 2023: -0.5%). This sector also contributed the second largest share to the overall retail growth rate, adding 0.5 percentage points to the total of 2.8%. Over the last 12 months, the growth rate remains stable, with gains of 4.5% recorded in the last two periods (up to December 2025 and up to January 2026).

With a 2.9% increase compared to January 2025, the Hypermarket and supermarket, food products, beverages, and tobacco sector registered its second consecutive month of growth in January 2026 (in November the sector changed by 0.1%, interpreted as stability). Thus, January's sales volume represented the largest contribution to the overall rate, adding 1.6 percentage points to the total of 2.8% for retail. In a comparison of the last 12 months, the activity also shows accumulated gains: 0.8% up to January 2026, a result equal to the level accumulated up to December 2025.

Companies in the Other personal and household articles sector, which includes department stores, opticians, jewelers, sporting goods, toys stores, etc., recorded 2.5% growth in January 2026 compared to January 2025, the tenth consecutive increase, even more intense than in the previous month (0.5% in December 2025). Furthermore, the cumulative indicator for the last 12 months continues to register gains (2.0% for January 2026) since July 2024, although decreasing since January 2025, when it reached 7.7% above the previous twelve months.

The Textiles, Apparel and Footwear sector achieved growth of 0.8% in January 2026, in the year-on-year indicator, the first positive point in the series after four months showing declines. In the last seven months, the year-on-year indicator registered declines in five of them, with only August 2025 (+0.6%) and January 2026 being positive. Regarding the cumulative indicator for the last 12 months, the result is both of gains (1.2% in January 2026) and a loss of momentum, given that it went from a level of 5.5% in June 2025 to below 2.0% in December.

In the negative field, in January 2026 compared to January 2025, the Books, Newspapers, Magazines and Stationery sector registered -3.4%, the second consecutive month of decline. Over the last twelve months, seven have seen declines, with the last increase in November 2025 (6.0%). Over twelve months, the sector has accumulated losses of 1.2% up to January 2026, a similar intensity to the level established in previous months (-1.2% in November and -0.9% in December 2025).

The Fuels and Lubricants sector, in January 2026, showed a change of -0.4% in sales compared to January 2025. This result reverses the positive result registered in December (3.0%). Since the second quarter of 2025, the sector has been showing volatile behavior in relation to the year-on-year indicator, alternating between positive and negative results. The cumulative figures for the last twelve months showed a change of 0.4% in January 2026, demonstrating that the sector has maintained changes close to zero since July 2025, when it achieved gains of 0.2%.

In the extended retail trade, the activity of Motor vehicles and motorcycles, parts and accessories showed a decrease of 3.3% in sales compared to January 2025, returning to decline after growing 0.7% in December, the only positive month since June 2025. This sector contributed the most to the overall year-on-year rate, in negative territory, adding -0.6 percentage points to the total of 1.1% for extended retail. Over the last twelve months, the result is one of increasing losses: -1.7% in October, -2.5% in November, -2.9% in December 2025, and -3.8% in January 2026.

The Construction Materials sector showed a negative rate (-2.3%) when comparing the month to the same month of the previous year, resuming the downward trend observed from June (-3.8%) to November 2025 (-2.9%), interrupted by the 0.1% change in December. This sector exerted the third largest negative influence on the extended retail sector, contributing -0.2 percentage points to the total of 1.1%. Over the last twelve months, there has been a negative trend for the second consecutive month (-0.1% up to December 2025 and -0.6% up to January 2026).

Wholesale companies specializing in food, beverages, and tobacco showed a 2.0% increase in January 2026 compared to January 2025, the fifth consecutive positive result, something that had not happened since December 2023. Over the last twelve months, the result is still negative: -1.4% up to January.

Retail trade had positive rates in 20 of the 27 Feeration Units

Compared to the previous month, retail trade had positive results in 20 of the 27 Federation Units, with notable increases in: Rondônia (5.5%), Pernambuco (5.5%), and Amazonas (4.8%).

On the other hand, negatively impacting the overall trend, 6 of the 27 Federation Units show positive results, notably Bahia (-1.4%). Mato Grosso do Sul (0.0%) showed stability.

In the same comparison, in the extended retail trade, the change between December 2025 and January 2026 had positive results in 20 of the 27 Federation Units, notably Tocantins (9.6%), Pernambuco (4.0%) and Mato Grosso (3.6%). On the other hand, negatively impacting the overall trend, 6 of the 27 Federation Units show positive results, notably Bahia (-1.9%), Amapá (-1.7%) and Goiás (-1.4%). Rio Grande do Norte (0.0%) showed stability.

Compared to January 2025, the change in retail trade, the year-on-year 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, 1 of the 27 Federation Units showed a negative result: Piauí (-0.6%). In the extended retail trade, there was a predominance of positive rates, with 21 of the 27 Federation Units, notably Mato Grosso (9.1%), Tocantins (9.0%) and Rondônia (8.1%). On the other hand, negatively impacting the market were 6 of the 27 Federation Units, notably Piauí (-2.5%), São Paulo (-1.9%) and Rio Grande do Sul (-1.9%).