The softer-than-expected mid-month inflation Brazilian figure for May, of 4.9% y/y, suggests that the headline rate has now peaked, and we think it will fall back below the central bank’s target in the coming months. Copom will be under no pressure to raise interest rates for the foreseeable future.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services