Latin America Data Response Mexico Bi-Weekly CPI (Apr.) & IGAE Act. (Feb.) Mexican inflation continued to rise in the first half of April, hitting a fresh seven-year high of 5.6% y/y. That being said, the stability of the peso over recent weeks means it’s probably close to... 24th April 2017 · 1 min read
Latin America Data Response Brazil IPCA-15 (Apr.) Data to mid-April showed that Brazilian inflation has fallen below the BCB’s central target for the first time in almost seven years. We expect it to fall further over the coming months, before... 20th April 2017 · 1 min read
Latin America Data Response Mexico Industrial Production (Feb.) February’s industrial production data from Mexico were soft by most standards, but there is still no sign of the outright collapse that has been suggested by the recent business surveys. Indeed, as... 11th April 2017 · 1 min read
Latin America Data Response Mexico Consumer Prices (Mar.) Mexican inflation hit a fresh seven-year high of 5.4% y/y in March, up from 4.9% y/y in February, but the recent rebound in the peso means that it is probably now close to peaking. Much still depends... 7th April 2017 · 1 min read
Latin America Data Response Brazil & Chile Consumer Prices (Mar.) The latest drop in Brazilian inflation leaves it only a whisker above the BCB’s central target and probably seals the deal on a larger 100bp cut in interest rates at next week’s Copom meeting. 7th April 2017 · 1 min read
Latin America Data Response Chile IMACEC (Feb.) The contraction in Chilean economic activity in February largely reflects a strike at the country’s largest copper mine, which has now come to an end. But the rest of the economy also weakened and... 5th April 2017 · 1 min read
Latin America Data Response Brazil Industrial Production (Feb.) The 0.1% m/m rise in Brazilian industrial production in February was smaller than expected but still leaves the sector on course to make a positive contribution to GDP over Q1 as a whole. 4th April 2017 · 1 min read
Latin America Data Response Mexico Bi-Weekly Consumer Prices (Mar.) Mexican inflation rose to a fresh seven-year high of 5.3% y/y in the first half of March but the details of the data contained some signs that the upward pressure on prices is easing. Nonetheless, we... 23rd March 2017 · 1 min read
Latin America Data Response Brazil IPCA-15 (Mar.) Data to mid-March showed another dip in Brazilian inflation and probably give enough cover for policymakers to accelerate interest rate cuts at next month’s Copom meeting. In practice, however, any... 22nd March 2017 · 1 min read
Latin America Data Response Peru Economic Activity (Jan.) Peru’s economy rebounded strongly in January due largely to a pick-up in the mining sector. But with a strike underway at the country’s largest copper mine, we suspect the improvement in GDP growth... 15th March 2017 · 1 min read
Latin America Data Response Mexico Industrial Production (Jan.) The increase in Mexican industrial production in January was modest, but the fact it grew at all stands in stark contrast to the sharp fall in the business surveys since President Trump has taken... 14th March 2017 · 1 min read
Latin America Data Response Brazil Consumer Prices (Feb.) The larger-than-expected drop in Brazilian headline inflation in February, to 4.8% y/y, from 5.4% y/y in January, was broad-based and reinforces the case for further significant monetary easing over... 10th March 2017 · 1 min read
Latin America Data Response Mexico Consumer Prices (Feb.) Mexican inflation rose to a seven-year high of 4.9% y/y in February, from 4.7% y/y in January, and, despite the recent rally in the peso, we suspect this will be enough to convince the central bank to... 9th March 2017 · 1 min read
Latin America Data Response Brazil Industrial Production (Jan.) & Chile CPI (Feb.) The small 0.1% m/m fall in Brazilian industrial production in January is partly payback for a 2.3% m/m surge in December, and we think the recovery should resume over the coming months. Elsewhere, the... 8th March 2017 · 1 min read
Latin America Data Response Brazil GDP (Q4) The 0.9% q/q fall in GDP in Q4 is the eighth consecutive quarter that Brazil’s economy has contracted but it should also be the last in this cycle. Indeed, not only do we expect the economy to return... 7th March 2017 · 1 min read
Latin America Data Response Chile IMACEC (Jan.) The latest activity data for Chile suggest that the economy rebounded from Q4’s slump in January, but with a strike at a major mine set to hit copper output in February, we suspect that growth is... 6th March 2017 · 1 min read
