Argentina's supermarket sales lag while household consumption nudges up

According to a report by the Centro de Economía Política Argentina (CEPA), supermarket turnover in Córdoba province fell 0.7% in the first four months of 2026 compared with the same period in 2025 and was 6.8% below 2023 levels, amounting to a loss of roughly 70.5 billion Argentine pesos in constant terms. The decline affected food items such as meat and dairy, whereas fruit‑and‑vegetable sales rose 4.9% and apparel surged over 140% year‑on‑year, a trend the report links partly to the recent opening of imports. Private‑sector salaries had lost purchasing power, limiting overall consumption.

In parallel, the Cámara Argentina de Comercio’s consumption index showed a 0.9% month‑on‑month rise in May, marking a second consecutive month of improvement. Inflation eased to 2.1%, the lowest rate since September 2025, and average nominal household income reached about 3.1 million pesos. Growth was strongest in housing, rentals and public services, while apparel, transport and recreation fell, and credit activity slowed.