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August IGP-M Inflation Eases Below Estimates

BRAZIL
  • August IGP-M, a set of data more focused on wholesale prices, fell to 8.59% y/y versus estimates of 8.76% and 10.08% prior. The second-tier inflation gauge is seen as an indication of what may happen with consumer prices in the near future and points to further positive signs on the trajectory of Brazilian inflation.
  • Lula Keeps 44% in Brazil 1st round, Bolsonaro with 32%, Ipec Poll (BBG)
    • In an eventual 2nd round, the former president Luiz Inacio Lula da Silva maintains advantage over the incumbent Jair Bolsonaro; Lula has 50% of the voting intentions, while Bolsonaro has 37%, according to data from the Ipec poll commissioned by TV Globo released overnight.
  • Today: CNT/MDA will release their latest presidential poll.
  • Treasury Secretary Paulo Valle holds press conference to comment on July primary budget, 3pm local.

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