Good morning! Today, what the latest inflation numbers tell us. Brazil’s oil and natural gas production estimates. And more polling confusion.
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Brazilian inflation really is calming down
September inflation numbers brought some great news for President Jair Bolsonaro — whose campaign was worried that skyrocketing prices would hinder his effort to keep the presidency for four extra years. Per IBGE, Brazil’s official statistics agency, prices fell by -0.29 percent last month — once again pulled down by cheaper fuel at the pump.
- In the 12 months through September, overall inflation sits at 7.17 percent.
Why it matters. Food prices, which had been the inflation villains for months, went from a 0.24-percent rise in August to a drop of 0.51 percent. “This is the first drop in food costs since November 2021,” says Pedro Kislanov, manager of IBGE’s inflation survey.
- As finance reporter Ana Ferraz explained last...