Macroeconomic Forecast Brazil

October 2008 | Macroeconomic Forecasts

We see growing scope for headline inflation in Brazil to converge with our end-2008 inflation target of 6.0% y-o-y this year, as commodity prices continue to come off their boil, and tighter monetary conditions are starting to pinch consumer demand. Looking at the Fundação Getulio Vargas IGP-M inflation index, price inflation started to retreat from their five-year high of 15.1% y-o-y in July to 12.3% in September.

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