UPDATE 1-Mexico retail sales post biggest rise in over 2 years in Jan
(Updates with details on sales, background, adds table) MEXICO CITY, March 23 (Reuters) - Mexican retail sales rose in January by the most in more than two years, delivering a boost to domestic spending in Latin America's No. 2 economy, data from the national statistics institute showed on Wednesday. Adjusted for seasonal swings, sales jumped 2.7 percent in January compared with December 2015, the biggest increase since November 2013. Compared with the same month in 2015, retail sales climbed 5.2 percent, its fastest pace in two months. Consumer spending has been a relative bright spot for the economy. Last week, the Mexican central bank held its main interest rate at 3.75 percent, but said it could raise borrowing costs if a weak peso begins to hit inflation expectations. The bank hiked borrowing costs in February and December after a deep slump in the peso. Retail Jan 2016 December Jan 2015 sales (pct 2015 change) month/mont 2.7 -1.3 1.3 h year/year 5.2 3.4 4.7 (Reporting by Dave Graham and Alexandra Alper; Editing by Jeffrey Benkoe)
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