Brazil: Retail Sales Slow

Brazil’s retail sales slowed for the third month in four in April, fueling speculation that the Central Bank will hold interest rates steady at a meeting today. Interest rates are at an 18-month high. Retail, supermarket and grocery store sales rose 3.4 percent year-on-year in April, compared with an 8.6 percent increase in March. Annual retail sales for the 12 months through April slowed to 8.2 percent from 8.8 percent in March.