Latin America Data Response Mexico Industrial Production (Jun.) Mexico’s industrial sector posted sluggish growth of just 0.1% m/m in June and the data suggest that the first estimate of Q2 GDP growth may be revised down. The backdrop of weakness in the US means... 11th August 2022 · 3 mins read
Latin America Data Response Brazil IPCA (Jul. 2022) The sharp fall in Brazilian inflation to 10.1% y/y in July from 11.9% y/y in June was mainly a result of tax cuts on energy; inflation in most other price categories remains extremely strong. Even so... 9th August 2022 · 2 mins read
Latin America Data Response Mexico Consumer Prices (Jul.) The rise in Mexico’s headline inflation rate to 8.2% y/y in July, coming alongside the stronger-than-expected Q2 GDP figures released in late-July, mean that Banxico is almost certain to hike interest... 9th August 2022 · 2 mins read
Latin America Data Response Brazil Industrial Production (Jun.) The 0.4% m/m fall in Brazilian industrial production in June, taken together with softer surveys last month, provides further evidence that the economy is losing momentum. GDP growth in the second... 2nd August 2022 · 2 mins read
Latin America Data Response Mexico GDP (Q2 Prov.) Provisional GDP figures show that Mexico’s economy grew by a stronger-than-expected 1.0% q/q in Q2 and we have nudged up our forecast for GDP growth this year to 2.3% (from 1.8% previously). Even so... 29th July 2022 · 2 mins read
Latin America Data Response Brazil IPCA-15 (July 2022) The drop in inflation in Brazil to 11.4% y/y in the first half of July provides the first clear sign that inflation has passed its peak and is now on a downwards path. But even so, with the headline... 26th July 2022 · 2 mins read
Latin America Data Response Mexico Bi-Weekly CPI (Jul.) The further rise in Mexico’s headline inflation rate to 8.2% y/y in the first two weeks of July means that Banxico is all but certain to deliver another 75bp hike in interest rates, to 8.50%, at its... 22nd July 2022 · 2 mins read
Latin America Data Response Mexico Industrial Production (May) Industrial production in Mexico rose by a disappointing 0.1% m/m and timely indicators suggest that the sector was even weaker still in June. With growth in the US weakening, we expect industrial... 12th July 2022 · 2 mins read
Latin America Data Response Brazil & Chile Consumer Prices (Jun.) The increases in inflation in Brazil (to 11.9% y/y) and Chile (to 12.5% y/y) last month set the ground for 50bp hikes in policy rates at their respective central banks’ next meetings (in Chile’s case... 8th July 2022 · 2 mins read
Latin America Data Response Mexico Consumer Prices (Jun.) The rise in Mexican inflation to 8.0% y/y, its highest rate since 2001, will sustain the hawkish shift seen on the Banxico Board at its latest meeting in June. A 75bp hike in the policy rate in August... 7th July 2022 · 2 mins read
Latin America Data Response Mexico Bi-Weekly CPI (June) The stronger-than-expected rise in inflation to 7.9% in the first two weeks of June adds to the pressure on Banxico to fight stubbornly strong price pressures. We think Banxico will step up the pace... 23rd June 2022 · 2 mins read
Latin America Data Response Brazil IPCA (May 2022) The fall in Brazilian inflation to 11.7% y/y in May suggests that Copom will continue to slow the pace of tightening with a 50bp Selic rate hike, to 13.25%, next week. But with inflation set to stay... 9th June 2022 · 2 mins read
Latin America Data Response Mexico Consumer Prices (May) Mexico’s inflation rate stabilised at 7.7% y/y in May and we expect that it will trend lower in the coming months. This may temper some of the hawkish sentiment at Banxico. We think that it will stick... 9th June 2022 · 2 mins read
Latin America Data Response Brazil IPCA-15 (May 2022) The further rise in Brazilian inflation, to 12.2% y/y in the middle of May, supports our view that there will be another 75pb of hikes in the current tightening cycle (to 13.50%). Investors seem to... 24th May 2022 · 2 mins read
Latin America Data Response Mexico Bi-Weekly CPI (May) While Mexico’s headline inflation edged down to 7.6% y/y in the first two weeks of May, this will provide little comfort to the central bank as price pressures remain stubbornly strong. The risks are... 24th May 2022 · 2 mins read
Latin America Data Response Chile GDP (Q1) The 0.8% q/q contraction in Chile’s GDP in Q1 suggests the economy is coming back down to earth after a stellar 2021, and there is a growing chance of a recession this year. Meanwhile, the current... 18th May 2022 · 3 mins read
