Latin America Data Response Mexico Consumer Prices (May) The rise in Mexican core inflation to its highest rate in over three years in May, at 4.4%, appears mainly to be related to temporary factors. Policymakers at the central bank will probably continue... 9th June 2021 · 2 mins read
Latin America Data Response Brazil Industrial Production (Apr.) The worse-than-expected 1.3% m/m decline in Brazilian industrial production in April is likely to be followed by a partial recovery last month. That said, the latest surveys suggest that activity in... 2nd June 2021 · 2 mins read
Latin America Data Response Brazil GDP (Q1 2021) The 1.2% q/q expansion in Brazil’s GDP suggests that the economy held up well during the country’s second virus wave and more timely figures point to a rapid recovery from the more recent third wave... 1st June 2021 · 3 mins read
Latin America Data Response Brazil IPCA-15 (May 2021) The further rise in Brazilian inflation, to 7.3% y/y in the middle of May, can partly be pinned on unfavourable base effects, but there are also signs of a broader increase in goods inflation. While... 25th May 2021 · 2 mins read
Latin America Data Response Mexico Bi-Weekly CPI (May) The drop in Mexico’s headline inflation to 5.8% y/y in the first half of May was driven by a sharp fall in energy inflation. While we expect that this trend will continue in the coming months, there... 24th May 2021 · 2 mins read
Latin America Data Response Chile GDP (Q1 2021) The softer-than-expected 3.2% q/q rise in Chilean GDP in Q1 will probably be followed by a marked slowdown in Q2 caused by the lockdown at the start of the quarter. Nonetheless, high-frequency data... 18th May 2021 · 3 mins read
Latin America Data Response Mexico Industrial Production (Mar.) The 0.7% m/m rise in Mexican industrial production in March masked a more impressive 3.0% m/m increase in output in the key manufacturing sector, which recovered from disruptions caused by power... 12th May 2021 · 2 mins read
Latin America Data Response Brazil IPCA (Apr.) The further jump in Brazilian inflation to 6.8% in April makes another 75bp rate hike (to 4.25%) at the next central bank meeting in June highly likely. But the breakdown of the data provides reason... 11th May 2021 · 2 mins read
Latin America Data Response Mexico Consumer Prices (Apr.) The surge in Mexico’s inflation to 6.1% y/y in April was mainly driven by unfavourable base effects linked to fuel prices and this impact should unwind over the coming months. We think that Banxico... 7th May 2021 · 2 mins read
Latin America Data Response Brazil Industrial Production (Mar.) The 2.4% m/m drop in Brazil’s industrial production in March is a clear sign that the severe virus outbreak has put the economic recovery into reverse and the data for April may be worse still. But... 5th May 2021 · 2 mins read
Latin America Data Response Mexico GDP (Q1 Prov.) The modest 0.4% q/q rise in Mexico’s GDP in Q1 largely reflects the economy’s poor performance at the start of the year. The good news is that the recovery got back on track at the end of the quarter... 30th April 2021 · 3 mins read
Latin America Data Response Brazil IPCA-15 (Apr. 2021) The jump in Brazil’s inflation to 6.2% y/y in mid-April is likely to keep the central bank on course to hike the Selic rate by 75bp, to 3.50%, at its meeting next week. 27th April 2021 · 2 mins read
Latin America Data Response Mexico Bi-Weekly CPI (Apr.) The jump in Mexican inflation to 6.1% y/y in the first half of April was primarily linked to unfavourable base effects from low oil prices a year ago. We doubt that this will concern the central bank... 22nd April 2021 · 2 mins read
Latin America Data Response Brazil IPCA (Mar. 2021) The jump in Brazilian inflation to 6.1% in March was largely a result of rising energy inflation, which will be transitory. Even so, the central bank is clearly worried by above-target inflation and... 9th April 2021 · 2 mins read
Latin America Data Response Mexico Industrial Production (Feb.) The surprising 0.4% m/m rise in Mexico’s industrial production in February came despite the hit to manufacturing and utilities output from power outages. The industrial sector probably gained further... 9th April 2021 · 2 mins read
Latin America Data Response Mexico Consumer Prices (Mar.) The jump in Mexico’s headline inflation, to 4.7% y/y in March, was driven once again by higher fuel inflation. We think this trend has a bit further to run, but the central bank is likely to look... 8th April 2021 · 2 mins read
