Retail Sales in Chile

The Retail Sales index measures the change in Chilean retail turnover at constant prices: it covers all of division 47 (retail trade) plus the retail lines for light vehicles and parts in division 45. It is a gauge of household consumption.

Statistics Chile (INE) collects turnover from a sample of retail outlets and deflates it to constant prices (2018=100); the Central Bank of Chile (BCCh) republishes the index and its rates of change in its statistical database. It is mainly watched in year-on-year terms.

It is one of the most closely watched private-consumption gauges: upside surprises point to strong household spending and downside ones to weakness. It shapes expectations for GDP and inflation and, through them, the Central Bank of Chile's rate decisions.

It does not match the 'pure' division 47 change in the IAC bulletin (which excludes vehicles): this series is broader. It is subject to revisions and seasonality, with months such as December heavily influenced by shopping campaigns.