Brazil’s retail sales fell 0.3% month-on-month in July 2025, marking the fourth straight decline, and matching market expectations.The drop was driven by office equipment and supplies, IT and communication (-3.1%), textiles, apparel and footwear (-2.9%), other personal and household goods (-0.6%), and hypermarkets, supermarkets, food products, beverages and tobacco (-0.3%). Gains came from furniture and household appliances (1.5%), books, newspapers, magazines and stationery (1.0%), fuels and lubricants (0.7%), and pharmaceutical, medical, orthopedic and perfumery articles (0.6%). Sales fell in 16 of 27 states, led by Rond