Macroeconomic Forecast Brazil

May 2007 | Macroeconomic Forecasts

BMI View: Consumer price inflation, as measured by the IPCA index, came in at 2.96% y-o-y in March, down from the 3.02% registered in February. On a month-on-month basis, IPCA rose by 0.37%, its slowest pace since last November. The declining trend is a positive development as inflation is significantly below the Banco Central do Brasil (BCB)'s 4.5% target.

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