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July IPCA Inflation Data Due

BRAZIL
  • Consumer prices as measured by the IPCA index likely decreased 0.65% in July on a monthly basis, according to economists surveyed by Bloomberg, compared to a 0.67% increase in prior reading.
  • The annual reading is expected to fall to 10.10% Y/y.
    • National statistics agency IBGE to release report at 1300BST/0800ET.
  • Govt will propose Brazil’s minimum wage at 1,302 reais per month in 2023 budget draft bill, with no real increase for the fourth year in a row, Folha de S.Paulo newspaper said citing people with direct knowledge of the matter.
    • Budget bill must be sent to Congress by August 31.
    • Amount is 90 reais above the current floor of 1,212 reais/month.

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