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IGP-10 Inflation Falls Es Expected, Ipec Poll Shows Lula 7pts Ahead

BRAZIL
  • General prices indicator printed in line with expectations this morning, confirming the short-term trend of declining inflation in the country. For reference, the more closely tracked IPCA inflation data for mid-October will be published on October 25.
    • Brazil Oct. IGP-10 Inflation Falls 1.04% M/m, Est. -1.04%: FGV
    • Brazil Oct. IGP-10 Inflation Rises 7.44% Y/y
  • Yesterday’s Ipec poll survey, carried out between Oct. 15-17, showed Lula with 50% of voting intentions, from 51% in the previous poll published on Oct. 10. Bolsonaro’s voting intention increased by 1 percentage point, to 43%.
  • Vale reported iron ore production for the third quarter that beat the average analyst estimate.
    • Vale 3Q Iron Ore Output 89.70M MT, Est. 87.2M (BBG)

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