Brazil consumer prices rise 0.32% in mid-October
Food and beverage prices drove the monthly gain, while the annual rate stayed below economists’ forecast and kept rate-cut expectations intact.
- On Friday, the government statistics agency IBGE reported Brazil's IPCA-15 consumer price index rose 0.32% in the month to mid-October, down from 0.70% previously. Annual inflation reached 4.62%, falling below the 4.73% consensus expected by economists.
- Policymakers at the Central Bank have delivered five consecutive 25-basis-point reductions, bringing the Selic benchmark rate to 13.75% as they monitor economic slowdown signs. This softer-than-expected inflation print supports their dovish case for further rate cuts.
- Bradesco, one of Brazil's largest private banks, reported a recurring net profit of R$7.1 billion, or about US$1.4 billion. Investors will test management on margins during the firm's earnings call scheduled for 10:30 BRT today.
- With the presidential runoff scheduled for Sunday, markets remain focused on the contest between right-wing Senator Flavio Bolsonaro and leftist incumbent Luiz Inacio Lula da Silva. Datafolha polls show the two candidates are statistically tied.
- Current odds from Polymarket indicate Flavio Bolsonaro has a 76.8% chance of winning the runoff, compared to 23.5% for Lula. Traders use these real-money betting platforms to gauge election outcomes following tight polling results.
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EBCThe light count and the air passages were pulled the IPCA-15 down; the tomato, on the other hand, pressed the index
The previous inflation lost its breath and was 0.32% in October, up from 0.7% in September, according to data released today by the IBGE (Instituto Brasileiro de Geografia e Estatística).
The Weekly Consumer Price Index (IPC-S) of the third four-week period of October rose 0.46%, according to data from the Brazilian Institute of Economics of the Getulio Vargas Foundation (FGV Ibre). In 12 months, it accumulated a high of 4.28%. In the same period of September, the indicator had advanced 0.52%; in the first four-week period of October, it was high of 0.39% and in the second, it increased 0.46%. In this analysis, four of the eight …
General inflation in Mexico accelerated to 3.62 percent per year in the first half of October, affected by the increase in energy, government-authorized tariffs, some agricultural prices and other goods and services, such as out-of-home food and air transport, indicate data from the National Institute of Statistics and Geography (Inegi).
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