Producer Prices in Brazil

Brazil Producer Prices | Economic News & Forecasts

Brazil - Producer Prices

Inflation rises to over one-year high in December

Consumer prices increased a seasonally-adjusted 1.35% in December over the previous month, accelerating from the 0.89% rise seen in November. December's figure was the sharpest increase in prices since February 2003. Looking at the details of the release, housing prices rose at a quicker pace in December compared to the previous month, while prices pressures for transport also gained steam

Inflation came in at 4.5% in December, above November’s 4.3%. December's reading marked the highest inflation rate since May 2019. Meanwhile, annual average inflation was unchanged at November's 3.2% in December.

Commenting on the outlook for inflation, Alberto Ramos, economist at Goldman Sachs, noted:

“In our assessment, at this stage the main upside risk to inflation is financial rather than economic/demand. Failure to address medium-term fiscal sustainability concerns could generate pressures on the capital account, un-anchor the currency and inflation expectations and through those channels contribute to deteriorate what has been hitherto a rather benign inflation backdrop.”

Panelists participating in the LatinFocus Consensus Forecast see inflation closing 2021 at 3.5%, which is up 0.1 percentage points from last month’s forecast. For 2022, the panel projects inflation to end the year at 3.3%.

Brazil - Producer Prices Data

2015   2016   2017   2018   2019  
Inflation (PPI, annual variation in %)11.3  7.7  -2.5  8.8  9.6  

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Value Change Date
Bond Yield6.79-0.82 %Dec 31
Exchange Rate4.02-0.13 %Jan 01

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