Latin America Data Response Mexico Consumer Prices (Oct.) Mexican headline inflation inched up further, to 4.1% y/y last month, but that mainly reflects a rise in food inflation and underlying price pressures are stabilising. Taking that together with the... 9th November 2020 · 2 mins read
Latin America Data Response Brazil IPCA (Oct. 2020) The further rise in Brazilian inflation to 3.9% y/y in October, from 3.1% y/y in September, was (again) mostly driven by higher food inflation. We don’t think that the central bank will be too... 6th November 2020 · 2 mins read
Latin America Data Response Brazil Industrial Production (Sep.) September’s solid 2.6% m/m rise in Brazilian industrial production took output above its pre-crisis level, and suggests the economy continued to fare well at the end of Q3. The latest surveys point to... 4th November 2020 · 2 mins read
Latin America Data Response Mexico GDP (Q3 Prov.) The 12% q/q rebound in Mexico’s GDP in Q3 still left output some 8% below its Q4 2019 level. And the recovery lost significant momentum throughout the quarter – a trend which we expect to continue. 30th October 2020 · 3 mins read
Latin America Data Response Brazil IPCA-15 (Oct. 2020) The jump in Brazilian inflation, to a seven-month high of 3.5% y/y in the middle of October, was driven almost entirely by the ongoing spike in food inflation. This is likely to keep inflation high in... 23rd October 2020 · 2 mins read
Latin America Data Response Mexico Bi-Weekly CPI (Oct.) Although Mexico’s headline inflation was above the central bank’s target, at 4.1%, in the first half of October, with price pressures likely to ease and activity still weak, we think that Banxico’s... 22nd October 2020 · 2 mins read
Latin America Data Response Mexico Industrial Production (Aug.) The 3.3% m/m rise in Mexico’s industrial production in August was largely driven by a delayed rebound in construction output. Manufacturing production only rose by 0.8%, and more timely indicators... 12th October 2020 · 2 mins read
Latin America Data Response Brazil IPCA (Sep. 2020) The jump in Brazilian inflation, to 3.1% y/y in September, was almost entirely driven by surging food inflation. Food inflation is likely to continue putting upward pressure on the headline rate in... 9th October 2020 · 2 mins read
Latin America Data Response Mexico Consumer Prices (Sep.) The stabilisation in Mexican inflation at 4.0%, after four successive monthly rises, should dampen hawkish sentiment at Mexico’s central bank. We think there is scope for at least one more 25bp rate... 8th October 2020 · 2 mins read
Latin America Data Response Brazil Industrial Production (Aug.) The 3.2% m/m rise in Brazilian industrial production suggests that the sector has now returned to close to its pre-crisis level of output. But the data also provide some early confirmation that the... 2nd October 2020 · 2 mins read
Latin America Data Response Mexico Bi-Weekly CPI (Sep.) The further rise in Mexican inflation, to 4.1% over the first half of September, was mainly driven by higher food and fuel prices. We suspect that the central bank will look past this and cut its... 24th September 2020 · 2 mins read
Latin America Data Response Brazil IPCA-15 (Sep. 2020) The further rise in Brazilian food inflation pushed up the headline rate to 2.7% y/y in the first half of September but, with core inflation still extremely soft, we doubt the central bank will be... 23rd September 2020 · 2 mins read
Latin America Data Response Mexico Industrial Production (Jul.) The marked slowdown in Mexico’s industrial production growth from 17.9% m/m in June to 6.9% m/m in July suggests the economic recovery was losing momentum at the start of Q3 – a trend which we expect... 11th September 2020 · 3 mins read
Latin America Data Response Brazil & Mexico Consumer Prices (Aug.) Brazilian inflation remained well below the central bank’s target last month, at 2.4% y/y, confirming that price pressures are soft and supporting our view that the Selic rate will stay low for a long... 9th September 2020 · 2 mins read
Latin America Data Response Brazil Industrial Production (Jul.) The stronger-than-expected 8.0% m/m rise in Brazilian industrial production in July adds to signs that the economy has recovered strongly in Q3. But with fiscal austerity likely to kick in next year... 3rd September 2020 · 2 mins read
Latin America Data Response Brazil GDP (Q2 2020) The Brazilian Q2 GDP data, which showed a 9.7% q/q fall in output, confirmed that the country suffered one of the more modest downturns in Latin America. But with fiscal policy set to turn from a... 1st September 2020 · 3 mins read
