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Campos Neto: Inflation Under Control

BRAZIL

Brazil Central Bank Governor Campos Neto described inflation as being under control overnight at a virtual event.

Yesterday saw IPCA-15 index rise 0.81% in November, taking the annual figure to 4.22%, above the inflation target for the year, which is 4%. Campos Neto reiterated:

  • Besides food prices, the exchange rate devaluation is also affecting inflation.
  • Inflation expectations remain anchored and within target.
  • The market is more focused on Covid-19 vaccine developments than in stimuli talks.

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