Sales in stores in Venezuela fell up to 35% in January

Sales in stores in Venezuela fell between 25% and 35% in January this year compared to the same month of 2022, following a acceleration of inflationwhich has reduced the purchasing power of consumers, the National Council for Commerce and Services (Consecomercio) said on Thursday.

At a press conference, the president of the union, Tiziana Poleselassured that, according to the reports of the sectoral chambers affiliated to the organization, they registered “not so encouraging numbers” during the “first months of the year”.

“We have reported a considerable drop in consumption(…) we have estimated, both at regional and sectoral level, an average that fluctuates between 25% and 35% less sales in terms of units in the trade and services sector,” he said. declared.

This contraction, he noted, has “very clear reasons”, among which stand out the low salary of a good part of Venezuelanswhich has continued to “pulverize” due to inflation which, according to independent estimates, climbed to 39.4% in January.

For this reason, Polesel demanded that the authorities “take action to fight inflationwhich, if left unaddressed, he assured, will “pulverize” any improvements in revenue.

Moreover, he insisted thatthe repeal of the Tax on Large Financial Transactions is seriously studied(IGTF), which it considers an “inflationary tax”, since it generates an increase “between 12 and 14%” in the price of products.

On the other hand, he pointed out that, although the opening with Colombia “could represent an extraordinary commercial opportunity” for the Caribbean country, it is necessary “to speed up certain processes”, in particular the improvement of the connection airline with the Andean nation thanks to an increase in the frequency of flights.

(With information from EFE)

Continue reading: