Latin America Data Response Mexico Bi-Weekly CPI (Oct.) The further rise in Mexico’s core inflation rate to a 12-year high of 5.1% y/y in the first two weeks of October, which contributed to the rise in the headline rate to 6.1% y/y, will add to the... 22nd October 2021 · 2 mins read
Latin America Data Response Mexico Industrial Production (Aug.) The stronger-than-expected 0.4% m/m rise in Mexico’s industrial production in August suggests that the economy may have held up better than we had previously anticipated in Q3. But, under the surface... 12th October 2021 · 2 mins read
Latin America Data Response Brazil IPCA (Sep.) The jump in Brazilian inflation to 10.2% y/y in September was largely a result of the hike in household electricity tariffs last month and, while the headline rate is at – or very close to – a peak... 8th October 2021 · 2 mins read
Latin America Data Response Chile Consumer Prices (Sep.) The jump in Chile’s inflation to 5.3% y/y in September suggests that the central bank may once again ramp up the pace of its tightening cycle. We now think it is more likely than not that it will... 8th October 2021 · 2 mins read
Latin America Data Response Mexico Consumer Prices (Sep.) The rise in Mexico’s headline and core inflation to 6.0% y/y and 4.9% y/y in September adds to our view that the central bank’s tightening cycle has much further to run. We expect a further 125bp of... 7th October 2021 · 2 mins read
Latin America Data Response Brazil Industrial Production (Aug.) The larger than expected 0.7% m/m fall in Brazilian industrial production in August suggests that the sector probably knocked 0.1-0.2%-pts off q/q GDP growth in Q3. Persistent shortages of component... 5th October 2021 · 2 mins read
Latin America Data Response Brazil IPCA-15 (Sep. 2021) The increase in Brazilian inflation to 10.1% y/y in the middle of September means that another large hike in the Selic rate at the Copom meeting next month is nailed on (we expect a 100bp hike to 7.25... 24th September 2021 · 2 mins read
Latin America Data Response Mexico Bi-Weekly CPI (Sep.) The renewed rise in Mexican headline and core inflation in the first two weeks of September, to 5.9% y/y and 4.9% y/y respectively, ensures that Banxico will continue its tightening cycle at its... 23rd September 2021 · 2 mins read
Latin America Data Response Mexico Industrial Production (Jul.) The stronger-than-expected 1.1% m/m rise in Mexico’s industrial production in July provides some encouragement that the economy fared well despite the onset of a third virus wave earlier this quarter... 10th September 2021 · 2 mins read
Latin America Data Response Brazil IPCA (Aug.) The rise in Brazil’s headline inflation rate to 9.7% y/y last month was driven by a broad-based strengthening of price pressures. With the economy re-opening and electricity tariffs hiked this month... 9th September 2021 · 2 mins read
Latin America Data Response Mexico Consumer Prices (Aug.) The drop in Mexico’s headline inflation rate to 5.6% y/y in August masks a further rise in core inflation, to 4.8% y/y, which will be a concern for the central bank. This suggests that its gradual... 9th September 2021 · 2 mins read
Latin America Data Response Chile Consumer Prices (Aug.) The further rise in Chile’s inflation to 4.8% y/y in August suggests that the central bank’s tightening cycle has a lot further to run. We expect a further 100bp of rate hikes, to 2.50%, by end-2021... 8th September 2021 · 2 mins read
Latin America Data Response Brazil Industrial Production (Jul.) The 1.3% m/m fall in Brazilian industrial production in July confirms that the sector continued its weak performance into the start of Q3, and surveys suggest that August will be weak too. That said... 2nd September 2021 · 2 mins read
Latin America Data Response Brazil GDP (Q2 2021) Brazil’s GDP contracted by 0.1% q/q in Q2 but, with virus cases falling sharply, it looks like Q3 will be a lot stronger. We doubt that the fall in output last quarter will have much bearing on the... 1st September 2021 · 2 mins read
Latin America Data Response Brazil IPCA-15 (Aug. 2021) The rise in Brazilian inflation to 9.3% y/y in the middle of August provides Copom with plenty to worry about and will keep it on course to hike the Selic rate by another 100bp (to 6.25%) next month. 25th August 2021 · 2 mins read
Latin America Data Response Mexico Bi-Weekly CPI (August) Mexico’s headline inflation rate dropped to a weaker-than-expected 5.6% y/y in the first half of August, but the further rise in core inflation will continue to concern the central bank. We expect... 24th August 2021 · 2 mins read
