Producer Prices in Brazil
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
|Inflation (PPI, annual variation in %)||11.3||7.7||-2.5||8.8||9.6|
5 years of economic forecasts for more than 30 economic indicators.
|Bond Yield||6.79||-0.82 %||Dec 31|
|Exchange Rate||4.02||-0.13 %||Jan 01|
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January 18, 2021
Economic activity increased 0.6% in month-on-month seasonally-adjusted terms in November, which followed October's 0.8% increase and marked the worst reading since April. On an annual basis, economic activity dropped 0.8% in November, moderating notably from October’s 2.8% fall and marking the best result since February.
January 15, 2021
Retail sales dropped 0.1% month-on-month in seasonally-adjusted terms in November (October: +0.8% mom), marking the first contraction since April.
January 12, 2021
Consumer prices increased a seasonally-adjusted 1.35% in December over the previous month, accelerating from the 0.89% rise seen in November.
January 8, 2021
Industrial output grew 1.2% in month-on-month seasonally-adjusted terms in November, an uptick from October's 1.1% increase.
January 4, 2021
The manufacturing Purchasing Managers’ Index (PMI), produced by IHS Markit, dropped to 61.5 in December from November’s 64.0, marking the lowest reading since July.