MNI BRIEF: Inflation Improvement Stalled - BCB's Campos Neto
MNI (WASHINGTON) - Brazil's central bank governor, Roberto Campos Neto, said Friday that while inflation had been clearly converging toward the 3% target in the recent past, this progress has now "stalled."
"We had a clear situation in which inflation was converging. It has stalled. We still have a lot of uncertainty in the data," he said at the Itau Latam Day event during the IMF meetings in Washington, D.C.
"We had two data points where core inflation showed slight improvement. This week, we received data on the IPCA-15 (October's half-month inflation) indicating core inflation is slightly higher than expected — not by much, but marginally worse. The figure was marginally worse as well," he added. (See MNI: Latam Policymakers Concerned About US Elections at IMF)