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November IPCA Inflation Data Due

BRAZIL
  • Consumer prices as measured by the IPCA index are expected to have increased by 0.29% in November on a monthly basis. This should see the annual headline rate reach 4.70%, after a 4.84% mid-November reading. The data will not have an impact on Wednesday’s Copom decision, with the central bank unanimously expected to deliver another 50bp rate cut, bringing the Selic rate to 11.75%. As a reminder, latest data from the Focus survey now sees 2023 year-end inflation at 4.51%. National statistics agency IBGE to disclose data at 1200GMT/0700ET.
    • Nov. IBGE Inflation IPCA M/m, est. 0.29%, prior 0.24%
    • Nov. IBGE Inflation IPCA Y/y, est. 4.70%, prior 4.82%

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