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Service Inflation Data Worsens - Campos Neto

  • Recent Brazilian services inflation data was “marginally worse”, central bank Governor Roberto Campos Neto said on Wednesday, adding that it is still unclear whether monetary policy will continue with a smooth trajectory during the “last mile” of its fight to lower inflation.
  • But the fastest-rising components of services inflation, including the cost of financial services, are not indicative of wages inflation, Campos Neto said at an event sponsored by members of the Brazilian Congress.
  • “The latest data on service inflation was marginally worse,” he said, adding “We don’t have enough data to conclude that we will cover this last mile in a linear fashion or whether there will be moments of slower convergence."

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