Brazil Inflation August 2016

Brazil

Brazil: Inflation rises to three-month high in August

September 9, 2016

Consumer prices in August increased 0.44% over the previous month. The print was below the 0.52% increase recorded in July and was in line with market analysts’ expectations. The slowdown was driven by slower growth in food prices, which had pushed up July’s reading.

Inflation in August rose to a three-month high of 9.0% from July’s 8.7%. Although inflation has fallen overall this year, price pressures still remain high despite a backdrop of recession. Inflation remains far above the Central Bank’s tolerance margin of plus/minus 2.0 percentage points around 4.5%.

Panelists participating in the LatinFocus Consensus Forecast see inflation closing 2016 at 7.2%, which is up 0.1 percentage points from last month’s forecast. For 2017, the panel expects inflation of 5.2%.


Author: Angela Bouzanis, Senior Economist

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Brazil Inflation August 2016 0

Note: Annual and monthly var. of IPCA consumer price index in %.
Source: Brazilian Institute of Geography and Statistics (IBGE).


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