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BCB's Campos Neto Points To Wage Inflation Concerns

BRAZIL
  • The Central Bank of Brazil is seeing a resurgence of inflation in areas where labor "is more intensive," Governor Roberto Campos Neto said Tuesday.
    • "Inflation has been falling … but looking deeper, it is marginally worse. We had a significant impact from airfare and vehicle registration, but we still believe it is within the [Copom] projected range," Campos Neto said at an event sponsored by BTG Pactual.
    • "We are observing a resurgence of inflation in areas with more intensive labor. We are attempting to establish a correlation with the labor market."
  • Some additional headlines from Finance Minister Haddad just crossing the wires:
    • BRAZIL MORE REASONABLE RATE MAY GENERATE POSITIVE 2024
    • BRAZIL WILL DO WHAT IS NEEDED TO MEET FISCAL TARGET (BBG)

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