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Bloomberg
Brazil’s retail sales rose more than forecast on gains in categories such as fuels, clothing and electronics, as cases of the Omicron variant of the coronavirus plunged.
Sales rose 1.1% in February from the month prior, more than the 0.3% median estimate from analysts in a Bloomberg survey. At the same time, January’s increase was revised higher to 2.1%. From a year ago, retail rose 1.3%, the national statistics agency reported.
Retail demand in Latin America’s largest economy has been helped by the unwinding of pandemic restrictions and greater mobility. On the other hand, high borrowing costs and inflation, propelled by more expensive raw materials, have weighed on spending. Consumer-price increases represent one of voters’ top concerns as President Jair Bolsonaro seeks reelection later this year.