Brazil’s Retail Sales Drop More Than Expected in January

Brazil’s retail sales fell twice as much as forecast in January as double-digit inflation and rising joblessness take a toll on consumers’ purchasing power.

Sales fell 1.5 percent after a 2.7 percent drop in December, the national statistics agency said Thursday. That was more than all but one prediction from 39 economists, whose median forecast was for a 0.7 percent decline. Sales fell 10.3 percent over the past 12 months.

Read the full article on Bloomberg.

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