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IGP-10 Inflation Metric Also Falls Below Estimates

BRAZIL
  • Brazil’s August IGP-10 Inflation Index -0.69% M/m; Est. -0.59% (Bloomberg)
    • IGP-10 y/y 8.82% vs 10.87% a month ago
    • Wholesale prices -0.65% m/m vs 0.57% the previous month
    • Consumer prices -1.56% m/m vs 0.42% the previous month
    • Construction costs 0.74% m/m vs 1.26% the previous month
    • For reference, IGP-10 covers approx. the 10th of previous month to the 10th of current month. The index is weighted 60% producer prices, 30% consumer prices and 10% construction costs.
  • In the latest poll by Genial/Quaest, Lula Has 45%, Bolsonaro 33% in Brazil’s 1st round Poll. Compared to the previous poll taken on Aug. 3, the spread remains unchanged. That poll showed Lula with 44% and Bolsonaro with 32% in 1st round scenario.
  • Ibovespa option expiration at B3 stock exchange today.

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