April 25, 2024 15:58 GMT
Mid-Month IPCA Inflation Due Tomorrow
BRAZIL
- IPCA-15 inflation data for the first half of April will be published tomorrow, with analysts expecting prices to have risen by 0.29% m/m, following a 0.36% gain previously. On an annual basis, the rate of inflation is expected to ease to 3.85% y/y, from 4.14%, which would be the lowest since last July. These will be the last IPCA inflation data ahead of the May 8 Copom meeting.
- Itaú expect inflation to post a 0.27% m/m increase, reflecting medicine prices readjustment in April. The annual rate will decelerate to 3.8% y/y, from 4.1%. Itaú note that adding to the headline figure, the composition will continue to show underlying core at a high level, with IPCA ex-3 near 4% (3mma saar) and higher underlying services reflecting theatre discounts payback.
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