Latin America Data Response Mexico Bi-Weekly CPI (Jan.) The small rise in Mexican inflation, to 3.3% y/y over the first half of January, was largely driven by higher fuel prices and is unlikely to be a major concern for the central bank. We continue to... 22nd January 2021 · 2 mins read
Latin America Data Response Brazil IPCA (Dec. 2020) The larger-than-expected rise in Brazilian inflation, to 4.5% y/y last month, coupled with the prospect of above-target inflation for much of 2021, will prompt an increasingly cautious stance from the... 12th January 2021 · 3 mins read
Latin America Data Response Mexico Industrial Production (Nov.) The solid 1.1% m/m rise in Mexican industrial output in November, coupled with more timely auto production data, suggests that the sector added around 1.5%-pts to q/q GDP growth in Q4. Moreover, we... 11th January 2021 · 2 mins read
Latin America Data Response Brazil Industrial Production (Nov.) The solid 1.2% m/m rise in Brazilian industrial production in November, coupled with strong surveys for December, suggests that the sector may have added some 0.5-0.6%-pts to q/q GDP growth in Q4. But... 8th January 2021 · 2 mins read
Latin America Data Response Mexico Consumer Prices (Dec.) The further fall in Mexican inflation, to 3.2% in December, was largely driven by a drop in food inflation. With headline inflation likely to stay within Banxico’s 2-4% target range in the coming... 7th January 2021 · 2 mins read
Latin America Data Response Mexico Bi-Weekly CPI (Dec.) The further fall in Mexico’s headline inflation, to 3.2% y/y in the first two weeks of December, was largely driven by a drop in food inflation. Nonetheless, underlying price pressures remain muted... 23rd December 2020 · 2 mins read
Latin America Data Response Brazil IPCA-15 (Dec. 2020) The softer-than-expected Brazilian mid-month inflation figure for December, of 4.2% y/y, suggests that the earlier spike in inflation has now passed its peak. Coupled with rising new COVID-19 cases... 22nd December 2020 · 2 mins read
Latin America Data Response Mexico Industrial Production (Oct.) The robust 2.0% m/m rise in Mexican industrial production in October suggests that the economy started Q4 on a solid footing. But more timely indicators imply that the recovery struggled over the rest... 11th December 2020 · 2 mins read
Latin America Data Response Mexico Consumer Prices (Nov.) The sharp drop in Mexican inflation to 3.3% in November was largely driven by a drop in food and fuel prices, although underlying price pressures also remained soft. With inflation likely to settle... 9th December 2020 · 2 mins read
Latin America Data Response Brazil IPCA (Nov. 2020) The further rise in Brazilian inflation, to 4.3% y/y last month, was (again) the result of higher food inflation. But inflation in most other price categories fell last month which may help to ease... 8th December 2020 · 2 mins read
Latin America Data Response Brazil GDP (Q3 2020) The 7.7% q/q rise in Brazilian GDP in Q3 was a bit weaker than had been expected, but the data still confirm that the economy has fared better than other major Latin American countries so far during... 3rd December 2020 · 2 mins read
Latin America Data Response Brazil Industrial Production (Oct.) The 1.1% m/m rise in Brazilian industrial production in October confirms that, after what looks to have been a very strong Q3, the economy held up well at the start of Q4. Surveys suggest that this... 2nd December 2020 · 2 mins read
Latin America Data Response Brazil & Mexico Mid-Month CPI (Nov.) The fall in Mexican inflation, to 3.4% y/y, in the middle of this month, supports our view that Banxico will cut its policy rate by a further 25bp, which we now expect to happen at next month’s... 24th November 2020 · 2 mins read
Latin America Data Response Chile GDP (Q3 2020) The 5.2% q/q rise in Chile’s GDP in Q3 may seem small relative to the 13.5% q/q drop in Q2. But the recovery was accelerating through the quarter, and we think that output will return to its pre... 18th November 2020 · 3 mins read
Latin America Data Response Colombia GDP (Q3 2020) The 8.7% q/q rebound in Colombia’s GDP in Q3 meant output was still 9% below its pre-virus level by the end of the quarter. Although hopes for a vaccine have brightened the outlook, weak fiscal... 17th November 2020 · 2 mins read
Latin America Data Response Mexico Industrial Production (Sep.) The Mexican headline industrial production figure for September, which showed that output was flat from August, masks a welcome pick-up in growth in the key manufacturing sector. Even so, it’s clear... 11th November 2020 · 2 mins read
