Eurozone retail sales fell 0.1% month-on-month in January 2026, following an upwardly revised 0.2% gain in December 2025 and missing market expectations of a 0.3% rise. The decline was driven by weaker sales of fuel (-1.1% vs 0.6% in December) and other non-food products (-0.2% vs -0.4%), while sales of food, drinks, and tobacco rose 0.3%, slightly below December’s 0.4% increase. Looking at the region’s largest economies, retail trade fell in Germany (-0.9%) but rose in France (0.3%), Spain (0.2%), Italy (0.2%), and the Netherlands (0.4%). On an annual basis, Eurozone retail growth accelerated to 2.0% in January from 1.8% in December, surpassing the market consensus of a 1.7% increase.