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IGP-10 Inflation Rises Below Estimates, Guedes Studying Further Tax Cuts

BRAZIL
  • Prices measured by IGP-10 inflation index rose just 0.10% in May versus an expected increase of 0.33% and a prior 2.48% advance.
  • Brazilian govt will analyse with industrial sector further tax cuts, Economy Minister Paulo Guedes said during a ceremony in Sao Paulo alongside President Jair Bolsonaro. (BBG)
    • Govt is studying a national reconstruction fund to enable investments in the public sector, he said.
  • At the same event, Bolsonaro again said that that he has “nothing against” Petrobras’s profit
    • President said he is looking for solutions on fuel prices.

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