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IPCA Inflation Data Scheduled At Top Of The Hour

BRAZIL
  • Consumer prices as measured by the IPCA index likely increased by 0.78% in February on a monthly basis, according to the median surveyed estimate on Bloomberg. Annual headline inflation is expected to dip to 5.53% Y/y from 5.63% at the latest mid-month reading. National statistics agency IBGE to release report at 1200GMT / 0900 local time.
    • The increase in the monthly read from January should largely reflect the seasonal spike in school tuition. The mid-February data showed a 6.4% month-over-month surge in education costs, which is expected to carry into to the full-month result. Food inflation likely slowed in February, while apparel prices may increase slightly after a seasonal decline prior.
  • President Luiz Inacio Lula da Silva is in Brasilia and is scheduled to meets with ministers, including Finance Minister Fernando Haddad, Planning Minister Simone Tebet, Institutional Relation Minister Alexandre Padilha.
    • On Thursday, Tebet said Brazil’s new fiscal framework will please everyone, as it is concerned with fiscal responsibility, seeking the stabilization of the debt/GDP ratio. The new fiscal rule should be presented by the end of the month, said the minister adding that market participants will be satisfied with the rule. (BBG)

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