Economic activity in Brazil expanded for a third straight month in November, the longest stretch of gains since 2014, suggesting strong momentum at the end of the year. The central bank’s economic activity index rose 0.49% from October after seasonal adjustments1 comment
Brazil's road to economic recovery has passed another milestone with official data showing on Tuesday that the country finished 2017 with a record trade surplus 40.5% higher than in the previous year. The US$67 billion surplus was in line with market projections and within the US$65/70bn range forecast by the government.
Brazil's consumer price inflation slowed in April, but not enough to prevent the 12-month rate from remaining well above the central bank's target. The consumer-price index, IPCA, rose 0.71% in April, compared with a rise of 1.32% in March, the Brazilian Institute of Geography and Statistics, or IBGE, said in its latest release.
As was anticipated and in line with the current anti-inflation policy, Brazil's central bank on Wednesday evening announced the increase of the basic Selic interest rate another 50 points to 13.25% from 12.75%. The decision from the nine-member Monetary Committee was unanimous, according to the official release.
Inflation edged up in Brazil in February to hit an annualized rate of 5.68%, following a 0.69% monthly rise in February, national statistical office IBGE said Wednesday.
Brazil’s inflation will slow in the second half of the year as the country produces a bumper crop of grains and the Real doesn’t weaken as it did last year, central bank President Alexandre Tombini said.
Brazilian Finance Minister Guido Mantega said on Wednesday that inflation has peaked and indicators are pointing to a retreat to a lower level. Consumer prices rose in October at their fastest pace since April due to higher food prices, government data showed, though a measure of wholesale costs suggested relief should arrive in coming months
Brazil’s inflation slowed to its lowest in almost two years on temporary tax breaks for autos, paving the way for more interest rate cuts as the government tries to revive economic growth.