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
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Inflation (PPI, annual variation in %) | 11.3 | 7.7 | -2.5 | 8.8 | 9.6 |
Brazil Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 6.79 | -0.82 % | Dec 31 |
| Exchange Rate | 4.02 | -0.13 % | Jan 01 |
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Economic News
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Brazil: Economic activity growth moderates further in November
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.
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Brazil: Retail sales fall for the first time in seven months in November
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.
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Brazil: Inflation rises to over one-year high in December
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.
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Brazil: Industrial output growth picks up 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.
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Brazil: Manufacturing PMI drops in December, but remains in positive territory
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.
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